Tractor Sales in April 2020: Decline of 79.4% due to the nationwide lockdown

Tractor Sales in April 2020: Decline of 79.4% due to the nationwide lockdown

Domestic tractor industry witnessed a decline of ~79.4% on-year in April 2020 due to the nationwide lockdown effective from 25th March'20 which led to closing of tractor manufacturing units and dealerships. Even, exports decreased significantly by 87.8% on-year in April 2020 due to lower demand from export destinations and hindrances to export amid the lockdown. The sales numbers show above was recorded in last few days of the month after the exemption of sale of Agri Machinery was announced by the Union Government on 20th April. 

•    Mahindra’s overall sales was 4,772 units in April 2020, as against 28,552 units in Apr’19. Its domestic sales saw a decline of 82.8% while overall sales       slumped by 83.3%. Exports were down by 94.7% against 1,057 units from April 2019.
•    India’s 2nd Largest Tractor Manufacturer TAFE Group  domestic tractor sales were registered 2,982 units in Apr’20  and in Apr’19 it was registered 9,554  units which were decreased by 16.96%.
•    Sonalika tractors domestic sales were 749  units in Apr’20 and it was recorded 5,612 units in FY19 which indicates 86.6% of the drop in the tractor sales.

•    Escorts Agri Machinery Segment announced overall sales of 705 tractors in April 2020 against 5,264 tractors sold in April 2019. Domestic tractor sales of Escorts was at 613 tractors against 4,986 tractors in April 2019.
•    John Deere tractor sales also decreased by 76.7% as sales were registered 1150 units in April  2020 compared to 4909 units in Apr 2019.
•    New Holland tractor sales were only 881 units and in April’20, sales were 2238 units in April’19. 

Tractor manufacturers are hopeful of strong recovery of lost sales as a result of the pandemic-induced lockdown that was imposed from the last week of March.

“Upto 50% of the sales lost due to lockdown from March, April and May can be recovered in the months of June – October as we can see that the rural sentiment is positive on good rabi crop output this year. Water reservoir levels are high and good monsoon forecast will further encourage the demand for tractors," Shenu Agarwal, chief executive officer, Escorts Agri Machinery said

The hopes of tractor manufacturers will also be boosted by the announcements made by the Finance minister on Friday, which focused on providing a stimulus to the agricultural and animal husbandry sectors and allied industries.

M&M has resumed operations across all of its tractor plants except for the Kandivali unit in Mumbai. On May 14, the company’s Mohali-based facilities resumed operations.

"With most of our plants having commenced production, we will ramp up our production numbers through May, as the supply chain opens up," said Hemant Sikka, president, farm equipment sector, Mahindra & Mahindra Ltd (M&M).

Shenu Agarwal added that the farm machinery segment is not hit as much as the automotive industry as agricultural activities were gradually exempted from the lockdown measures.
 

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Sonalika tractors registers 71% Domestic Growth; Leads industry growth with 11,478 domestic sales in November’20

Sonalika tractors registers 71% Domestic Growth; Leads industry growth with 11,478 domestic sales in November’20

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महिंद्रा ने 56 फीसदी ज्यादा ट्रैक्टर बेचे

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Mahindra's Farm Equipment Sector Sells 31,619 Units in India during November 2020

Mahindra's Farm Equipment Sector Sells 31,619 Units in India during November 2020

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, today announced its tractor sales numbers for November 2020. Domestic sales in November 2020 were at 31,619 units, as against 20,414 units during November 2019, domestic sales increased by 55% Total tractor sales (Domestic + Exports) during November 2020 were at 32,726 units, as against 21,031 units for the same period last year, overall sales increased by 55.60% YoY. Exports for the month stood at 1,107 units. Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 31,619 tractors in the domestic market during November 2020, a growth of 55% over last year. Demand continues to be robust fueled by an excellent festive season with retails being strong during Dhanteras and Diwali. Rural sentiments remain positive on account of higher Kharif output and Rabi sowing. Procurement operations for kharif are on full swing which would keep the rural cash flows healthy. The government's focus on rural growth continues and outlay under Atmanirbhar Bharat 3.0 will provide further fillip to the industry. In the exports market, we have sold 1,107 tractors, a growth of 79% over last year."

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