13 September 2024, New Delhi: Sales of tractors in India declined by 11.38 percent in August 2024. A total of 65,478 tractors were sold in the country in the month of August, while 73,892 tractors were sold in the same month last year.
Sales of many other companies including Mahindra, Swaraj, TAFE have declined in August, while sales of Sonalika and John Deere have increased. This decline in sales is a matter of concern for major tractor companies. Especially when tractor sales have declined continuously in the last few months. Tractor sales were also low last year due to weak monsoon, however, there is a possibility of improvement in tractor sales with the expectation of normal monsoon this year.
According to data from the Federation of Automobile Dealer Associations (FADA), Mahindra & Mahindra tractor sales declined by 9.7 percent in August 2024. The company sold 16,183 tractors in August, as against 17,929 units in August 2023. However, the company’s market share has increased to 24.72 per cent. Mahindra’s Swaraj division tractor sales have declined by 8.87 per cent. The company sold 12,221 tractors in August 2024 as against 13,413 tractors sold last year. Swaraj’s sales may have declined, but its market share has gone up to 18.66 per cent.
Sales of companies like TAFE Limited, Escorts, Eicher, CNH Industrial, and Kubota have also declined. TAFE sold 7,119 tractors in August 2024, as against 9,564 units last year. Escorts Kubota sold 5,869 tractors in August, down from 7,433 tractors sold last year. Eicher’s sales stood at 4,182 units in August, as against 4,962 tractors sold by the company last year.
In contrast, Sonalika Tractors’ sales grew marginally by 0.42 per cent. The company sold 8,495 tractors in August 2024 with a 12.97 per cent share. John Deere’s sales also grew by 15.91 per cent. The company sold 5,313 tractors in August, up from 4,900 tractors sold last year. CNH Industrial (India)’s sales also increased in August. The company sold 2,550 tractors in August, up from 2,383 tractors sold last year.
(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News) (+80 Million Farming Audience Visits Krishak Jagat’s Hindi Website – Click Here for Website)
