This second wave of Covid-19 shaken India once again, but domestic tractor wholesalers were seen positive. The total domestic tractor sales were 63447 units in April '21 against 11827 units in April '20. Tractor Sales shows a growth of 436% as there was lockdown in April’20 but in comparison of March’21 Tractor sales declined by 25.40%.
Mahindra tractors recorded an impressive growth of 454%. Mahindra also gained 1.36% of the market share in April '21. Mahindra tractor sold 26130 units in April 2021 and 4716 units in April 2020.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 26130 tractors in the domestic market during April 2021 with a growth of 454% over last year. High growth witnessed in April 2021 is due to low base due to nationwide lockdowns in April last year. There have been disruptions in supply chain due to localised lock downs and availability of oxygen along with dealerships in few states getting closed impacting demand momentum. All agri related fundamentals continue to remain strong, with bumper rabi crop harvest and forecast of a normal monsoon. We expect that tractor demand will bounce back as farmers start preparing their land for Kharif crops in the ensuing weeks. We continue to monitor evolving Covid situation across the states with key focus on safety of our people and partners. In the exports markets, we have sold 1393 tractors, a growth of 2388% over last year and have a strong order book."
TAFE Group sold 11176 units in April '21, and in April '20, the sales were 2982 units, which shows a growth of 274.78%. Besides, the TAFE group lost its market share by 7.62% this month.
Sonalika Tractor sales registered an 851% rise this month. It displayed 7122 units of domestic tractor sales in April 2021, which is 6,373 units more than the April 2020 domestic tractor sales. Along with this, Sonalika added 4.89% of the market share.
John Deere tractors registered 461% growth in their domestic tractor sales, reported 6450 units Tractor sales in April '21 against 1150 units sold during April '20. John Deere's market share increased by 0.44% in April '21.
Escorts Tractors has shown a significant increment of 942% this month compared with April 2020. Escorts Tractors domestic sales of 6386 tractors in April '21 against 613 tractors in April'20. This helps them with adding 4.88% in the total market share during April '21.
The demand in April last year was drastically impacted by Covid-19 national lockdown; so was it in April 2021 although not to the same extent. This time around supply chain had minimal impact from local restrictions owing to the second wave of Covid-19. This enabled the Company to build some inventory in anticipation of some pent-up demand as the pandemic situation improves” said Escorts in a regulatory filing. “The medium-term macroeconomic factors remain positive on account of record rabi harvest, sustained crop prices, and good prediction of monsoons this year. Inflation continues unabated and remains a worry” the company said.
New Holland Tractor also registered a 162% growth in domestic tractor sales, from 881 units in April’20 to 2309 units in April’21. However, it's market share marginally decreased ~3.80%.
Kubota tractor sales registered a 1654% hike in April 2021. Kubota tractor sold 1456 units in April 2021, against 83 units sold in April 2020. Along with this, the Kubota tractor added 1.60% in its Market share this month.
Besides, Indo Farm, Preet, Force, Captain, SDF, and ACE also registered commendable gains in their domestic tractor sales. Whereas Indo Farm, Preet, Force, and SDF increased their market share. On the other hand, VST, Captain and ACE lost their market share.
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