Since the lockdown was eased, tractor sales have grown on the back of pent-up demand, robust rabi harvest, improved kharif sowing backed by good monsoon, increased government spending and healthy water levels in the reservoirs. Domestic Tractor sales jumped by 38.55% in July’2020.
Mahindra Group (Mahindra + Swaraj Tractor) hits “highest ever sales in July” 2020 as they sold 24463 units of tractor this month which is 5289 units more than by July 2019. But with the gain in sales, still lose their market share by 3.33% this month.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 24,463 tractors in the domestic market during July 2020, a growth of 28% over last year. These are our highest ever July sales. The strong demand momentum continued, aided by positive sentiments due to good cash flows to farmers, higher Kharif sowing, a timely and normal monsoon cumulatively across June & July and continued higher rural spending by the Government.
India’s no.2 Tractor Manufacturers TAFE Group records 11728 units of sale domestically in July 2020 their sales increased by 35.47% in comparison to July 2019. But their market share dropped by 0.42 %.
India's one of the leading tractor manufacturer and number one Export brand from the country, Sonalika Tractor in July'20 records highest-ever domestic growth of 71.7 per cent and overall (Domestic+Exports) 10,223 tractors sale. Domestic sales stood at 8219 tractors compared to 4788 sales the same period last year. The company continues to be on growth trajectory beating industry growth. They also maintained 2.51% of the market share in this month.
"Happy to share that we have recorded highest ever domestic growth of 71.7 per cent in July'20 beating industry growth with overall sales at 10,223 tractors. This consistent performance, creating new record high and gaining market share is a testimony of our strong foundation and investment in world's number one vertical integrated plant, largest channel partners, technology savvy supply chain and best team. We have launched new tractors with advanced technology features at the same cost of current products, thus helping the farmers to upgrade and enhance their productivity and income," said Raman Mittal, Executive Director, Sonalika Group, while speaking on the performance.
John Deere Tractor 77.17% of boom recorded in John Deere Tractor sales domestically in the month of July 2020. Which is quite impressive as John Deere Company sold 7521 units of the tractor in 2020 and in 2019 they sold 4245 units. They also gained 2.60% of the market share this month.
During the month of July, Escorts Tractor faced some supply chain challenges, especially with a few suppliers of proprietary items. "As a result, we could operate only at about 50 percent of our capacity, resulting in unfulfilled demand. The situation has been continuously easing in the last few days of July, and hence we expect to go back to full capacity anytime up to mid-August 2020," highlighted Escorts.
Escorts Tractor sold 4953 units of the tractor in July 2020, and the sales recorded 4505 units in 2019 which displays 9.94% of growth this month of July. Even so, Escort Tractor lost 2.04% of market share in July.
New Holland Tractor outstanding in July 2020. They sold 2310 units in July 2020, which is 54.31% higher than the July previous year as they sold 1497 units. Along with this, New Holland Tractor retained 0.37% of market share in July 2020.
Kubota Tractors - also did an excellent job this month as they gained 93.70% of Kubota Tractor Sales. As in July 2020, their sales were 1414 units which are higher than July 2019 Kubota Tractor sales in India. Besides, they also gained 0.64% of market share in July 2020.
VST Tractor sales were registered 17.66% growth in July 2020. Their sales were 806 units in July 2020, which is 121 units more than sales in July 2019. They lost 0.23% of market share this month.
Captain Tractor, an exceptional rise in sale with market share recorded Captain tractor in July 2020. Their sales were boosted up by 100.89% and gained 0.22% of market share.
Indo Farm Tractor’s domestic sales were booming in July 2020 by 94.71%. It registered 161 units more in July 2020 as compared to July 2019. Indo Farm tractors also secured its market share by 0.15% in this month.
Force Tractor domestic sales were 325 units in July 2020, and it recorded 209 units in July 2019, which indicates a 0.51% benefit in the tractor sales.
ACE Tractor domestic sales increased by 4.39% to 214 units in July 2020 against 205 units in July 2019.
Preet Tractor sales registered this month is 201 units which are increased by 89.62% as compared to July 2019. They also maintained 0.09% of market share this month.
Same Deutz Fahr Tractors is the only manufacturer which shown sales de-growth in July Month. SDF Tractor sales decreased by 46.67% as sales were registered 200 units in July 2020 compared to 375 units in July 2019. Their market share was also lost by 0.51%.
During April-July’20 total 2,28,293 tractor sold out compare to last year same period (April-July’19) 2,36,876 in India. Overall 3.6% de-growth in domestic sales.
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