Retail Tractor Sales Report : Indian Tractor Industry Thrives with 11% Growth in February 2024
The robust growth in tractor sales for February 2024 indicates a positive trajectory for the agricultural machinery industry in India. It reflects the resilience and adaptability of both manufacturers and farmers in the face of evolving agricultural needs and challenges.
The Federation of Automobile Dealers Associations of India (FADA) released a retail tractor sales report on March 7, 2024, shedding light on the state of the Indian tractor market. According to the report, there was an 11% in tractor sales in February 2024 compared to the same month in 2023.
Tractor Sales Report for February 2024
|
Manufacturer |
Feb 2024 Market |
Feb 2023 Market |
Growth % |
Market Share (%), Feb 2024 |
Market Share (%), Feb 2023 |
MS YOY % Change |
|
Mahindra |
17,490 |
15,889 |
10.08% |
22.83% |
23.02% |
-0.19% |
|
M&M Ltd. (Swaraj Div.) |
14,100 |
12,478 |
13.00% |
18.40% |
18.08% |
0.32% |
|
TAFE Limited |
8,307 |
6,608 |
25.71% |
10.84% |
9.57% |
1.27% |
|
Sonalika |
9,841 |
8,619 |
14.18% |
12.84% |
12.49% |
0.35% |
|
Escorts Ltd. |
7.449 |
7,344 |
1.43% |
9.72% |
10.64% |
-0.92% |
|
Eicher |
5,366 |
3,932 |
36.47% |
7.00% |
5.70% |
1.30% |
|
John Deere |
5,906 |
5,958 |
-0.87% |
7.71% |
8.63% |
-0.92% |
|
New Holland |
3,016 |
2,656 |
13.55% |
3.94% |
3.85% |
0.09% |
|
Kubota |
1,735 |
1,966 |
-11.75% |
2.26% |
2.85% |
-0.59% |
|
Captain |
498 |
249 |
100.00% |
0.65% |
0.36% |
0.29% |
|
VST |
341 |
462 |
-26.19% |
0.45% |
0.67% |
-0.22% |
|
Others |
2,577 |
2,873 |
-10.30% |
3.36% |
4.17% |
-0.81% |
|
Total |
76,626 |
69,034 |
11.00% |
100.00% |
100.0% |
0.00% |
Also Read:- Sonalika Tractors Hits New Sales Record in February 2024, Achieves 16.1% Market Share Milestone
Brandwise FADA Tractor Sales Report February 2024
Here's a breakdown of tractor sales performance for various brands in February 2024 compared to February 2023:
Mahindra & Mahindra (including Swaraj): Both Mahindra and Swaraj tractors saw growth in sales, with Swaraj experiencing a larger increase of 13%.
INTERNATIONAL TRACTORS LIMITED: Sales jumped by over 14% for the company, along with a market share increase.
TAFE Limited: Sales grew by more than 25%, and the company gained market share.
Eicher Tractor: Sales surged by over 36%, with a significant market share increase.
New Holland Tractor: Sales rose by over 13%, with a slight market share gain.
Captain Tractor: Sales doubled compared to last year, although market share remained unchanged.
John Deere: Sales dipped slightly, and the company lost some market share.
Kubota Tractor: Sales declined modestly, with a slight decrease in market share.
VST Tillers & Tractor: Sales fell by over 26%, and the company lost market share.
Other Brands: Sales for other unspecified brands collectively dropped by over 10%, with a decrease in market share.
Also Read:- Escorts Kubota Tractor Sales Witness Challenges Within the Domestic Market in February 2024
Overall Market
There was a mixed performance in the tractor market in February 2024. While some brands saw significant growth, others experienced sales declines. Overall, there was a slight decrease in total sales compared to February 2023.
Also Read:- Compact Solar Pump Subsidy 2024-90% Bumper Subsidy For Farmers: Application Process in Detail
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