Posted On - 12 Jul 2021
First-time Indian Tractor industry crossed 1 Lac Tractor sales in June month with 18.9% YoY growth. Domestic sales were 1,10,395 units in June’21 against the 92,888 units in June’20, registered 18.85% growth
The outlook remains positive for the months ahead as the monsoons progress favourably which could lead to increased tractor demand and government sops such as direct benefit transfers.
Mahindra Tractors (Mahindra+ Swaraj) Records Highest June Sales Ever. Mahindra recorded 46875 unit sales in June 2021, whereas in June 2020, Mahindra domestic sales were 35844 units. This displays that Mahindra sales increased by 30.8%. Along with this, it also gained 3.9% of the market share in June '21.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 46875 tractors in the domestic market during June 2021 with a growth of 31% over last year. The sharp fall in Covid-19 cases and resultant easing of related restrictions, arrival of timely monsoon, increase in MSP rates for key kharif crops and continued strong Government support to all agri activities is giving a very strong momentum to tractor demand. We continue to remain optimistic about the progress of the monsoon and tractor demand in the coming months. In the exports market, we have sold 1347 tractors with a growth of 92%".
TAFE Group ( Massey Ferguson + Eicher ) sales recorded 12.9% growth, which is quite impressive. In June 2020, TAFE sales were 19084 units, and in June 2021, it was recorded at 21,540 units. That shows 2,456 unit growth. But TAFE lost ~1% market share this month.
Sonalika Tractor sells decreased by 6% in June’21 month along with Sonalika lost 3.1% market share in last month Sonalika tractor sold 12881 units in June '21 and 13691 units in June '20.
Escorts domestic sales increased in June '21 by 12.5%. The brand sold 11956 units in June '21 and 10623 units in June '20. But this time, Escorts tractor market share declined by 0.6%.
“We remain optimistic for the rest of the fiscal year, as timely and expected above-normal monsoon, increase in MSP prices, and record direct procurement by the government is leading to a positive build-up of farmer sentiments. The commercial activity also is expected to gain further momentum in the ensuing months. The enhanced pace of mass vaccinations is further going to help the rural sector,” said Escorts.
Inflation however continues unabated beyond industry expectations. “While we are trying to offset a part of this through internal cost control measures, we have announced a significant price hike effective July 1, 2021 on all tractors. This is our third consecutive price hike in the last nine months. Despite this, inflation continues to put pressure on the margins,” it added.
John Deere Tractor registered 8287 units of tractor sales in June '21 against 5861 units which exhibit 41.4% growth in sales. Along with this, the company gained a 1.2% market share YoY.
New Holland Tractor sales registered a 13.8% decline this month. However, it displayed 3315 units of domestic tractor sales in June 2021, against 3845 units in June’20. Along with this, New Holland Tractor lost 1.1% of the market share in June 2021.
Kubota Tractor company sales boosted by 59.9% in this month. They sold 2284 units in June 2021 against 1428 units in June 2020. Along with this, the Kubota tractor also gained its market share by 0.5%.
VST Tractor - 815 units tractor sales recorded in June 2021, and in June 2020, Vst domestic tractor sales recorded 789 units. This clearly shows a 3.3% increase in Vst domestic tractor sales.
Preet Tractor domestic tractor sales increased by 251.5% to 710 units in FY22 against 141 units in FY20.
Indo Farm Tractor domestic sales were 565 units in June 2021, and it was recorded 303 units in June 2020. That is a clear rise of 86.5% domestic tractor sales of Indo Farm Company.
Captain Tractor also gained 1.4% in its domestic sales this month. Captain tractor domestic sales recorded in June 2021 were 525 units and in June 2020 were 518 units. They also lost a 0.10% market share.
Force Tractor domestic sales were 338 units in June’21, and it recorded 263 units in June’20, which indicates 28.5% of the growth in the tractor sales.
Ace Tractor decreased 25.8% of domestic sales in this month, ACE tractor domestic sales were 190 units in June’21, and it recorded 256 units in June’20
SDF Tractor domestic tractor sales decreased by 37% to 114 units in FY22 against 181 units in FY20.
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