The Tractor Sales for February 2022

According to data gathered by the Federation of Automobile Dealers Association of India (FADA) for the month of February 2022, tractor retail sales decreased by 18.87 percent on a year-over-year basis and by 2.56 percent when compared to February 2020 sales. The top five tractor manufacturers in India have reported drastically lower sales due to many restraints in the rural sector.

Given this year's stronger rabi planting, adequate water levels in reservoirs, and an increase in the Union Budget's rural and Agri sector, the months ahead should witness better sales. Positive signs of a typical monsoon season could also boost tractor sales.

Mahindra was first on the list, selling 11,360 units in February 2021, down from 13,662 units in February 2021. However, the market share grew year over year, from 22.03 percent in February 2021 to 22.58 percent in the previous month. Last month, Mahindra's Swaraj Division sold 8,417 units, down from 10,299 units in February 2021, with market share improving from 16.61 percent to 16.73 percent year over year. Sonalika Tractors (International Tractors Limited) was ranked third, with retail sales falling to 6,373 units in the previous month, down from 8,486 in February 2021. The new Tiger DI tractors were introduced by Sonalika at the end of last year.

In the last month, TAFE Limited sold 5,579 units in retail, down from 6,523 units in February 2021. On a year-over-year basis, the Chennai-based tractor manufacturer's market share grew to 11.09 percent from 10.52 percent.

Escorts, John Deere, and Eicher all experienced a drop in retail sales. Sales of escorts fell to 5,039 units in February 2022, down from 7,157 in February 2021. The company's market share fell to 10.02 percent from 11.54 percent in February 2021. According to the corporation, substantial price rises caused by rising commodity inflation had a negative impact on retail sales, resulting in larger-than-normal inventory levels.

John Deere's retail sales fell to 4,409 units in February 2021 from 5,177 in February 2021, despite an increase in market share to 8.76 percent from 8.35 percent year over year. Retail sales for Eicher Tractors (2,749 units) and CNH Industrial (2,080 units) both declined YoY in February 2022, while Kubota sales grew to 1,333 units in February 2022, up from 1,115 units in February 2021. The company's market share increased from 1.80 percent to 2.65 percent year over year.

VST Tillers tractor sales were unchanged at 416 units, while Force Motors sales increased to 380 units in the last month, up from 336 in February 2021. Indo Farm tractor sales increased to 316 units last month, while Captain tractor sales fell to 97 units from 142 units sold in February 2021. Others in this group reported retail sales of 1,756 units in February 2021, down from 2,023 units in February 2021.