Domestic Tractor Sales Plunged by 32.6% in Jan 2022

The Union Budget which draws attention to improvements in highway construction and MSP guarantees to farmers, along with the upcoming season could bring in some positive results. Total tractor sales (wholesale) in the past month stood at 52,767 units; this was a 32.65 percent de-growth over 78,344 units sold in January 2021 and was also lower by 1.16 percent over 53,387units sold in January 2020. 

Brand Wise Domestic Tractor Sales Report 2022

Mahindra Group (Mahindra+Swaraj) sold 21162 units in Jan 2022, and the tractors sold in Jan 2021 were 33562 units. This clearly shows a decrease in the Mahindra domestic tractor sales by 36.95%. Along with this, the company also lost its market share by 2.73% this month. 

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 21162 tractors in the domestic market during January 2022. On the back of good rainfall and high moisture content in the soil, Rabi sowing has been very good, and this bodes very well for a bumper crop harvest. Continued Government focus on agriculture, rural infrastructure and higher cash flows with rabi harvest, will lead to positive sentiments and increase in tractor demand. In the exports market, we have sold 1520 tractors, registering a growth of 25% over last year.”

TAFE Group (Massey Ferguson + Eicher) recorded a 22% sales loss in Jan 2022. The company sold 9647 units of tractors in Jan 2022, which is less in comparison to the same month last year. But, TAFE Group registered a gain in market share by 2.50%. 

Sonalika Tractor registered a 1.03% gain in the market share. On the other hand, the company’s domestic tractor sales dropped by 26% in Jan 2022. As a result, Sonalika tractor sold 6034 units in Jan 2022 against 8154 units in Jan 2021. 

John Deere Tractor company also recorded a drop in domestic tractor sales by 34.30%. The company Recorded 5315 units in Jan 2022, and in Jan 2021, the domestic tractor sales recorded 8090 units. As a result, John Deere Tractor registered 0.25% of the downfall in their market share.  

Escorts Group recorded a double digit loss by 40.04%. The company sold 5103 units in Jan 2022 which is less in comparison with domestic tractor sales in Jan 2021. Escorts Group also lost a market share by 1.19%. 

New Holland Tractor domestic sales dropped by 34.26%. The company sold 2136 units in Jan 2022, and in Jan 2021, they sold 3249 units. The company’s market share also plunged by 0.10% this month. 

Kubota tractor company gained 0.50% of the domestic market share in Jan 2022. But, their tractor sales declined by 12.91% in Jan 2022. As a result, the sales were 1154 units in Jan 2022 against 1325 units in Jan 2021. 

Indo Farm Tractor company registered a double digit gain in domestic sales in Jan 2022. They sold 560 units in Jan 2022, and in Jan 2021, their domestic tractor sales were 464 units. They also registered a 0.47% gain in market share this month. 

Preet Tractor company recorded a heavy fall in Jan 2022 by 44.96%. They sold 475 units in Jan 2022, and the sales were 863 units in Jan 2021. As a result, Preet Tractors market share also decreased by 0.20%. 

Vst Tractor, In Jan 2022 domestic tractor sales were 368 units, whereas, in Jan 2021, it recorded 567  units, which is clearly 199 units less. This month, Vst Tractor lost 0.03% of the market share.

Force Tractor domestic sales fall by 26.41%. Force domestic tractor sales recorded 287 units in Jan 2022 and 390 units in Jan 2021. But, Force Tractor added 0.05% of the market share this month. 

Captain Tractor domestic sales declined by 44.17% in comparison to Jan 2021. They sold 225 units in Jan 2022, and in Jan 2021, they sold 403 units. This shows sales dropped by 178 units. Along with this, the company also lost its market share by 0.09% in Jan 2022.

ACE Tractor domestic sales increased by 6.97% in Jan 2022. The company recorded 215 units of sales in Jan 2022, and the domestic tractor sales were 201 units in Jan 2021. Additionally, the ACE Tractor company gained 0.15% of the market share in Jan 2022.

SDF Tractor domestic sales decreased this month. As a result, they recorded a negative 57.00% domestic tractor sales in Jan 2022. With this, SDF Tractor also lost a 0.09% market share. 

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