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According to the data released by the Tractor Manufacturers Association (TMA), the country’s tractor production increased by a healthy 17.1 per cent to 62.8 thousand units in September 2016. This was the highest production volumes reported by the tractor industry since September 2014.
Tractor sales volumes, too spiked by 42.8 per cent to a 23-month high in September 2016. Tractor manufacturers sold 74.6 thousand units during the month. Of this, a total of 67.7 thousand tractors were sold in the domestic market, translating into a robust growth of 49.4 per cent y-o-y. Export volumes grew by a meagre 1.2 per cent to 7,212 tractors in the month.
Sales volumes of Mahindra & Mahindra (M&M), the largest tractor manufacturer in India, jumped by 69 per cent in September 2016. Its sales quantity stood at 30.6 thousand tractor units in the month. The company’s domestic sales volumes surged by 70.3 per cent to 29 thousand tractors. M&M exported a total of 1,527 tractors, translating into a healthy 47.5 per cent growth.
Escorts’ sales volumes increased by a strong 37.8 per cent to 7,725 tractors in September 2016. In the domestic market, the company sold a total of 7,664 tractors, 37.5 per cent higher as compared to the same month a year ago. Export volumes of the company more than doubled to 61 units. The monthly sales data of M&M and Escorts is sourced from their respective press releases.