National News

Tractor sales in India likely to increase in June

16 June 2021, New Delhi, IN: According to the monthly retail vehicle sales data released by Federation of Automobile Dealers Association (FADA), the national organization of the automobile industry, tractor sales were down by 57 percent in May 2021 as compared to April 2021. In May 2021, 16,616 tractors were retailed as compared to April 2021. There were 38,285 tractor sales in April 2021. Similarly, sales of two wheeler, three wheeler, passenger and commercial vehicles have also decreased by 53, 76, 59, and 66 percent respectively. These figures are from FADA Ministry of Road Transport and Highways. 

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According to FADA, the first week of June 2021 has been promising for the automobile industry. With the impact of the pandemic easing, restrictions in many states have started to be lifted. It is expected that the sales of vehicles in June 2021 will be almost equal to that of June 2020. 
Mr. Hemant Sikka, President, Farm Equipment Division, Mahindra & Mahindra said that decrease in covid cases would be beneficial for positive market sentiments. According to him, bumper Rabi crop, record procurement, opening of mandis and normal monsoon are expected. Hopefully this will pave the way for growth in the times to come. Tractor manufacturers are also offering schemes like covid insurance, price reduction, easy and cheap finance to tractor customers with anticipation of increase in tractor sales due to pent up demand in June 2021.