Tractor sales in India plunge by 27% in July 2022; Industry blames erratic monsoon
08 August 2022, New Delhi: The domestic tractor industry faced an extreme decline in the tractor purchase for the month of July 2022. Tractor sales which were showing good growth until a month ago saw a big dip in July. This year in July 2022, a total of 59,573 tractors have been sold. The number is 27% less than last year’s July 2021 sale of 82,419 tractors.
The industry blamed erratic monsoon conditions prevailing in India which also led to decrease in Kharif sowing as area under paddy dipped by 13% (39.84 lakh hectares) as per the latest update released by the Ministry of Agriculture & Farmers’ Welfare.
Manufacturers who have shown more than 30% degrowth over last year are VST Tillers Tractors Limited, TAFE Limited, Eicher Tractors, CNH Industrial and Kubota Agriculture Machinery India.
The Industry hopes for a revival in the coming months as the festive season has always pushed a good growth year on year for the manufacturers.
