First time in the Tractor Industry Sales crossed 1 Lac mark consecutively in 2nd month also. Around 1,15,192 Tractors were sold in the Indian market for October 2020. The sales increased by an impressive 7.78% in Oct’20 v/s Oct’19.
You can clearly see the impact of favorable weather conditions on domestic tractor sales reports. Check out below the brand wise domestic tractor sales report and market share in October 2020.
Mahindra tractors sales recorded 45588 units in October 2020, and in October 2019, it was 44646 units, which shows an evident growth of Mahindra tractor by 2.11%. On the other hand, the drop in market share recorded by 2.20% in October 2020 as tractor industry grown by 7.8%.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, M&M said, “We continue to witness unprecedented retail demand which is likely to be higher than wholesale numbers on back of expectations of a higher Kharif output and good cash flow in the market. Auspicious festival days ahead, coupled with mechanization requirements for ongoing Kharif harvesting and impending Rabi sowing season augurs well for the industry."
India’s 2nd largest Tractor manufacturers TAFE grouo registered 8.51% of a boost in October 2020. It recorded 19045 units sales in October 2020 which is 1493 units more in comparison to October 2019. Along with this, the TAFE group recorded 0.11% growth in the market share.
India’s fastest growing Tractor Company Sonalika Tractor who is known for its innovative and hi-tech tractors among the farmers. In October 2020, Sonalika Tractor domestic sales registered admirable gain. The brand recorded a 13.41% boost in sales, which is the most significant sign for the company. It also adds 0.60% of market share this month compare to the last year.
Sharing his thoughts on this overwhelming response, Mr. Raman Mittal, Executive Director, Sonalika Group, said, “We have created magnificent history together by delivering 19,000 Sonalika Tractors and 10,018 Rotavators, making it highest ever retail across India in October'20, the beginning of festive season. Our domestic tractor billing growth is 13.3%, which is much higher than industry growth (est.7.5%). Our Cumulative billing (Apr- Oct’20) growth of 28.7% is highest in tractor industry.
Escorts group showed 13180 units of domestic tractor sales in October 2020, and it was 13034 units in October 2019, which offers an increase in sales by 1.12%. But, it lost 0.75% of market share this month.
“Despite operating at near-full capacity, the demand outpaced supply resulting in lower-than-normal inventories. Festival period of Navratri and Dussehra witnessed good footfalls, however sales even prior to that remained buoyant. The demand is driven fundamentally because of higher crop production, good crop prices, sufficient availability of water and easy availability of finance. We expect demand momentum to continue and supply chain issues smoothened out in the next few months. Inflation in commodity prices remains a worry” added the Escorts company.
John Deere domestic tractor sales indicate 11.77% of growth in the month of October 2020. John Deere sold 11977 units in October 2020, and in October 2019, they sold 10716 units. With this, it also adds 0.37% of market share this month.
New Holland Tractor famous for manufacturing and supplying super advanced featured tractors for the farmers. This month New Holland registered an incredible boom in domestic tractor sales by 1244 units. The brand sold 4987 units in October 2020 which is 33.24% more by tractor sold in October 2019. Additionally, New Holland Tractor market share also rises by 0.83%, which is the highest market share gain among all the manufacturers.
Kubota Tractors recorded 18.95% of growth in October 2020. In October 2020, company domestic tractor sales displayed 2329 units that show growth in comparison to October 2019. Kubota Tractor registered 0.19% of the increase in market share this month.
VST Tractors records an appreciable hike in domestic tractor sales by 33.58%. Additionally, VST tractor holds 0.18% of market share in October 2019.
281.82% of boom registered in Preet Tractor domestic sales in October 2020. Which is outstanding as Preet Tractor sold 840 units of the tractor in 2020 and in 2019 they sold 220 units. They also gained 0.52% of the market share in October 2020.
Indo Farm Tractor domestic sales was 551 units which is increased by 48.52% as compared to October 2019. Along with this, Indo Farm Tractor added 0.13% of market share in October 2020.
Captain Tractor records highest October domestic tractor sales ever. Captain Tractor registered 521 units tractor sales in October 2020, which is 110.93% higher than domestic tractor sales recorded in October 2019. Captain tractor also added a 0.22% of market share in this month.
Force Tractors domestic sales declined by 9.65% in October 2020, which is not a good sign for the company. Company sold 440 Tractor in Oct’20 compare to 487 Tractors in Oct’19. Force Tractor also lost 0.07% of market share this month.
SDF Tractor sales were 355 units in October 2020, and in October 2019, it was recorded as 486 units. This shows a decrease in SDF domestic tractor sales by 26.95%. With this, SDF Tractor as well lost 0.15% of market share in October 2020.
ACE Tractor registered a gain in domestic tractor sales. They acquired 10.80% of growth in October 2020 by selling 277 units. ACE Tractor also maintained a 0.01% market share in October 2020.
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