The Tractor industry has been performing exceedingly well during the Covid era, and the period Apr’20-Dec’20 was no exception. 6,60,341 tractors were sold in the Indian market during the above period, resulting in a YOY growth of 17.35%. The significant driving factors for the strong sales figures included easy availability of finance, restoration of channel inventory after the festive season, higher Kharif output, higher rabi acreage and government support in agricultural produce procurement.
The wholesale domestic tractor sales figures for the period Apr’20-Dec’20 are as shown in the table above:
Although the domestic tractor sales of Mahindra & Mahindra Farm Equipment Sector (FES) increased by 8.11%, it's market share decreased 3.28%. The domestic tractor sales stood at 2,53,284 units, against 2,34,277 units sold during Apr'19-Dec'19.
Tractors and Farm Equipment (TAFE) Group reported a growth of 26.18% in domestic tractor sales, with 1,23,892 units sold against 98,183 units during the same period last year. The company's market share increased from 17.45% to 18.76%.
Sonalika Tractors reported a decent growth of 36.36% in domestic tractor sales, with 88,520 units sold, against 64,918 units in the previous year. The total domestic market share increased from 11.54% to 13.41%.
Escorts' domestic tractor sales grew by 12.34%, with sales of 70,919 units against 63,130 units sold during Apr'19-Dec'19. However, the company's domestic market share saw a marginal decrease from 11.22% to 10.74%.
John Deere recorded domestic tractor sales of 62,289 units, up from 51,423 units sold during Apr'19-Dec'19, registering a growth of 21.13%. The company's market share grew marginally, from 9.14% to 9.43%.
Despite lagging in sales in the last quarter of 2020, New Holland managed to register a growth of 17.80% in domestic sales, from 22,325 units in Apr'19-Dec'19 to 26,298 units in Apr'20-Dec'20. The company's market share increased ever so slightly, from 3.97% to 3.98%.
Kubota Tractors managed to put up a commendable show and registered a 22.24% growth in domestic tractor sales, from 9,965 units to 12,181 units. Its market share increased marginally from 1.77% to 1.84%.
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