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FADA issued the retail tractor sales data on September 5, 2024. According to it, 65,478 tractors were sold in August 2024, a decrease from total sales of 73,892 units in August 2023. Moreover, tractor sales in India went down by 11.39% in August 2024.
Mahindra tractor continues to lead in the tractor market. The brand sold 16,813 units in August 2024, which is 9.74% lower than the 17,929 units sold in August 2023. However, the brand’s market share slightly increased by 24.72% in August 2024 compared to 24.26% in August 2023. This data shows that despite selling free units, Mahindra's hold on the market has increased by 0.46%.
Mahindra & Mahindra (Swaraj Division) experienced a sales drop, selling only 12,221 in August 2024, while they sold 13,413 units in August 2023. However, the market share has increased upto 18.66% from 18.15% in August 2023, which indicates a small growth in their market share by 0.51%
International Tractors Limited has better market value than other brands. Based on data from the brand, it sold 8,495 vehicles in August 2024, which is slightly higher by 0. 44% from 8,458 units sold in August 2023. The market share increased 12.97%, up from 11.45% in August 2023, showing steady growth of 1.52%
TAFE Limited has faced a decline, with sales falling by 25.56%. The brand sold 7,119 units in August 2024, which is lower than the 9,564 units sold in August 2023. The drop in unit sales has also affected their share market value by 2.07% in August 2023.
Escort Limited, an Agri Machinery Group, saw a 21.04% sales decline. They sold 5,869 units in August 2024, which is low as compared to 7,433 units in August 2023. The market share also went down by 1.10% in August 2023.
John Deere India (Tractor Division) has shown positive growth. The brand sold 5,313 units in August 2024, an 8.43% increase from the previous year's data of 4,900 units sold in August 2023. The market share of John Deere also went up by 1.48% in August 2023.
Eicher Tractors experienced a decrease, with a 15.72% decrease in sales. In August 2024, they experienced a decrease in sales, with 4,182 units sold compared to 4,962 units sold in August 2023. Their market value also dropped to 6.39% in August 2023, down from 6.72%.
CNH Industrial (India) Pvt Ltd showed strong growth, with sales of 7.01%. In August 2024, sales increased to 2,550 units from 2,383 units in August 2023. Brand’s market share increased to 3.89% compared to 3.22% in August 2023. Hence, the overall market share stands at 0.67%.
Kubota Agricultural Machinery India Pvt Ltd's sales decreased by 18.86%. The brand sold 1,222 units in August 2024 and 1,506 units in August 2023. Their share in the market has dropped slightly to 0.17%.
Other companies also experienced a significant decrease in sales, with a 30.50% decrease. In August 2024, they achieved sales of 2,324 units, which was lower than the 3,344 units sold in August 2023. The decrease in their market share went from 4.53% to 3.55%, indicating a 0.98% decline.
In conclusion, John Deere India and International Tractors Limited saw sales and market share increase. However, the majority of other manufacturers experienced decreases in both areas. Due to this, the brands in the tractor industry faced a big loss in the share market as well.
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