Published - 04 Aug 2022
According to Tractor Sales Data released by FADA - The irregular monsoon and delay in Kharif affected July retail tractor sales. As a result, the sales registered 59,573 units in July 2022 against 82419 units in July 2021, showing a downward trend in tractor sales this month by 27.72%.
FADA President, Vinkesh Gulati pointed out, “The tractor retail run witnessed poor demand as rural India continues to underperform. High inflation, erratic monsoon and high cost of ownership continues to keep bottom of the pyramid customers at bay.”
Brand Wise Tractor Sales Report July 2022
Following are the brand wise tractor sale in India in July 2022. Have a look down below FADA Retail Sales.
Mahindra & Mahindra released retail tractor sales for July 2022, which shows a decline in tractor sales data by 29.29%. The company sold 14,295 units in July 2022, and in July 2021, the sales were 20217. Accordingly, the company also registered a drop in market share by 0.53%.
Hemant Sikka, President of Farm Equipment Sector at Mahindra & Mahindra Ltd. said, "We have sold 21684 tractors in the domestic market during July 2022. Monsoon, which is a key factor of Agri growth, has stayed late this season. Overall rainfall has been higher than normal barring a few states in Eastern part of the country which were receiving less rainfall till now. As these states are the country's key paddy producing markets, recovering rainfall is crucial. Also, the festive season falling in the later half of August and sufficient rainfall across most geographies will redefine the industry even further."
Swaraj Division is known for its brand value, but this time the company recorded a loss of 19.61%. Swaraj's retail tractor sales were 10,542 units in July 2022, and the company sold 13,114 units in July 2021. On the other hand, the brand's market share rose by 1.79% this month.
Sonalika Tractor sales dropped by approximately 18.96% in July 2022, with sales of 7,406 units against 9,139 units in July 2021. Along with this, the company's retail market share increased by 1.34%.
TAFE also recorded a fall in retail tractor sales by 34.23%. The company sold 6,615 units in July 2022 and 10,058 units in the same month the previous year. As a result, the company's market share decreased by 1.1% YOY.
Escorts Group recorded a 28.5% sink in July 2022 tractor sales data. Escorts Group sold 6,306 units in July 2022, which is 2513 units less compared to July 2021. And as a result, it also lost market share by 0.11%.
Mr Nikhil Nanda, Chairman and Managing Director, speaks on the report, "We are excited to be Escorts Kubota Limited (EKL) now. During the first quarter of the current fiscal industry the Agri sector has witnessed a positive trend, after 3 quarters of degrowth. With onset of monsoon, and likely record kharif crop production, rural liquidity and farmer sentiments are expected to gradually improve. In our construction business, we have outperformed the industry in our served markets and expect growth momentum to continue with the Government's thrust on infrastructure development. We are witnessing good order booking in our Railway Business and expect a strong fiscal going ahead. With recent Government actions, Inflation may stabilise in near term and operating leverage may further possibly help in partially diluting the impact on margins in coming quarters."
John Deere Tractors registered a 26.76% fall in retail tractor sales. However, John Deere Tractor Sales Report July 2022 noted down by 4,473 units, and in July 2021, tractor sales were 6,107 units. And John Deere tractors registered a 0.1% growth in market share.
Eicher Tractor also recorded a 33.36% reduction in retail tractor sales, from 3,565 units in July 2022 to 5,350 units in July 2021. As a result, its market share declined by 0.51%.
New Holland Tractors registered a 31.34% decrease in retail tractor sales report 2022. The company sold 2,035 units in July 2022 as against 2,964 units in July 2021. The New Holland brand also recorded a drop in market share by 0.18%.
Kubota tractor sales indicate a 30.93% decline in July 2022 Retail Tractor sales report. Kubota Tractors sold 1,382 units in July 2022, and in July 2021, they sold 2,001 units. Also, Kubota lost 0.2% of the market share this month.
Captain Tractor company also recorded a drop in retail tractor sales by 15.72%. The company recorded 434 units in July 2022, and in July 2021, retail tractor sales recorded 515 units. Besides this, Captain Tractor registered a 0.11% downfall in its market share.
Force Tractor retail tractor sales also declined by 9.8% in July 2022. 405 units were recorded in July 2022, and in 2021 it was recorded 449 units. The company maintained its market share by 0.14%.
VST Tillers & Tractors sales dropped by 59.42% in July 2022. The company recorded 375 units in July 2022, and tractor sales recorded 924 units in July 2021. Additionally, the VST Tillers & Tractors company lost 0.49% of its market share this month.
Indo Farm Tractors sales recorded a 7.04% decline in July 2022. In July 2022, Indo Farm Tractors retail sales were 251 units, and in July 2021, it was recorded at 270 units. Despite that, Indo Farm Tractors also gained a 0.09% market share this month.
Other than these brands, retail tractor sales were 1,489 units in July 2022 and 2,492 units in July 2021, which shows a loss of 40.25%. They also lost market share by 0.52%.
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