In India, the tractor industry is achieving a hike exceptionally consistently, and March '21 also went quite well. 85098 units of tractors were sold in India in March '21 that results in a clear YOY upturn of 141.65%. The notable factors for the tremendous sales growth included the Indian government supporting the agriculture sector and a new and beneficial scheme for farmers.
The wholesale domestic tractor sales for the month March '21 are display in the table above:
India’s no. 1 tractor manufacturing company Mahindra & Mahindra lost its market share by 3.06% but lodged a 122.22% domestic sales gain. 13418 units sold in March' 21and the company sold 29817 units in March '21.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 29,817 tractors in the domestic market during March 2021 with a growth of 122% over last year. Impact of lower base coupled with continued positive sentiments driven by healthy reservoir levels, higher MSP, and increased liquidity, have led to strong wholesale growth in March. Tractor demand is expected to remain strong as Rabi harvesting is progressing well along with the onset of sowing of summer crops in select markets. In the exports market, we have sold 1,153 tractors, a growth of 491% over last year.”
TAFE Group registered 15830 units of tractor sales in March '21 against 5,365 units which exhibit 195.06%. Along with this, the company gained a 3.37% market share YoY.
In March Month, Escort limited secures No.3 Tractor Manufacturer position as Escorts recorded 124.37% of gain in its domestic tractor sales in March '21. Even so, the company's market share goes off track by 1.06%. They sold 11730 units in comparison to 5528 units in March '20.
Sonalika Tractors a modest success in its domestic tractor sales by 151.61%. With this, the company gains 0.52% of the market share. They sold 11071 units in March '21 against 4400 units in March '20.
Upbeat about the company’s performance, Mr. Raman Mittal, Executive Director, Sonalika Group, said, “Achieving a significant landmark of phenomenal domestic growth of 41.6% in FY’21, which is highest in industry and surpassing industry growth (est. 26.7%) by a significant margin amidst the most challenging year is a testimony that we have laid a strong foundation to remain closely knitted with our farmers and the society at large, which has only strengthened with time.
John Deere Tractor recorded 8152 units in March '21 compared to March '20. The company registered a 117.21% rise this month. That's different, and John Deere tractors fail to earn market share. They lost their market share by 1.08%.
March '21 has been great for the New Holland Tractors. The company sold 3345 units of tractors in March '21, which is 298.21% more than the New Holland domestic tractor sales in March '20. They also attained 1.55% of the Market share this month.
The Japanese Tractor Manufacturers Kubota recorded an admirable growth in its domestic tractor sales by 60.57%. Aside from, the company lost their market share by 1.06%. They sold 1792 units in March '21 against 1116 units in March '20.
Besides, Preet, Indo Farm, VST, Force, Captain, SDF, and ACE also registered commendable gains in their domestic tractor sales. Whereas Preet, Indo Farm, Force, and ACE maintained their market share. On the other hand, VST, Captain and SDF lost their market share.
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