Since last 3 months Tractor industry was showing phenomenal growth and industry was expecting 10-12% growth in March Month but Due to lockdown domestic tractor sales decreased by 43.49%, in March 2020. Corona badly impacts the tractor industry as all company tractor sales collapsed.
In terms of volume, Escorts has taken the biggest hit. The company sold upward of 11,431 units in March 2019, a number that came down to 5,228 in March 2020. That is a 54.3% per cent drop in sales for India’s oldest Tractor Manufacturer. Only Indofarm saw a small increase in percentage, with only 149 units sold in March 2020 compared to the 135 in March 2019 leading to a 10 per cent jump in their numbers.
In terms of percentage ACE Tractors has taken the biggest hit, selling 10 units in March 2020 compared to the 189 units they sold in March 2019. That is a 94.7 per cent drop in the numbers. While the percentage drop is big, the number in volumes is not that significant.
Mahindra Tractors Domestic sale is less impacted by Corona. Mahindra tractor sales recorded in March 2020 is 13418 units, which is dropped 27% lower than March 2019. But Mahindra Tractors successfully grab 38.10% market share, which is 8.50% more than the March 2020.
TAFE Group recorded a constant drop in Domestic tractor sales, continuously from last 3 months. TAFE domestic tractor sales recorded 10567 units in March 2019 and it is recorded 5365 units in March 2020, which clearly shows a 49% decline in TAFE domestic tractor sales.
Escorts domestic tractor sales also declined 54% by the impact of corona in March 2020. 11431 units were recorded in March 2019 and in 2020 it was recorded 5228 units.
Sonalika tractor sales were decreased by 51% in March 2020 compared to March 2019. Sonalika Tractor sales were 9042 units in March 2019 and in March 2020 it was recorded 4400 units. This shows a clear decline of 51.3%.
John Deere is the best performer in FY 2020, as its manages to grab 10.14% market share which is 1.50% higher than the FY19. John Deere tractor sales also decreased by 32% as sales were registered 3753 units in March 2020 compared to 5590 units in March 2019.
Kubota tractor sales fall off. 24.8% of sales declined in March 2020. 1470 units sold in March 2019 against 1116 units were sold in March 2020.
In March 2020, New Holland tractor sales were only 840 units and in March 2019, sales were 3170 units which clearly show a huge decline of tractor sales by 73.50%. In this month New Holland loses his position of India no. 6th Manufacturer to Kubota Tractors
VST registered 59.78% drop in tractor sales in March 2020 comparison to March 2019. 372 units were sold in march 2020 against 925 units in mach 2019.
Captain Tractor sales recorded a decline of 7.69%. Captain tractor sold 228 tractors in March 2020.
Force tractor sales decreased by 72.42% in March 2020. Force sold 163 tractors in March 2020 against 591 on March 19.
Indo Farm recorded 10.37 growth in March 2020. In March 2019 sales were 135 units and in March 2020 sales were 149 units.
Same Deutz Fahr tractors registered 71.64 a vast decline in domestic tractor sales. In March 2019 sales were 402 units and in March 2020 sales were only 114 units.
Preet tractors sales also decreased by 45.45% to 60 units in March 2020 against 110 units in March 2019.
ACE tractor displays a 179 units decline in domestic tractor sales. As in March 2020 sales were 10 units and in March 2019 sales were 189 units so it is a 94.71% drop.
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