In FY '24, India's domestic tractor sales suffered a decrease of 874504 units. Sales dropped by 7.07% from the previous year's total of 940,985 units. We are presenting a comprehensive sales report by brand along with their market share. Take a look at what's underneath.
Mahindra & Mahindra (Mahindra + Swaraj) experienced a 6.42% decrease in domestic tractor sales in FY’24. The company achieved sales of 364526 units, compared to 389531 units in FY '23. Additionally, the Mahindra Tractor gained an extra 0.29% of the market share.
TAFE Group's sales decreased to 157503 units in FY'24 from 169843 units in FY’23. Domestic sales data for FY'24 at TAFE Tractor Group indicate a decrease of 7.27%. The company's market share is also declining by 0.04%.
Sonalika Tractor experienced a 0.54% decline in domestic tractor sales, selling 115369 units in FY '24 compared to 116000 units in FY '23. However, the company was able to retain its market share by 0.86% in the current year.
Escorts Tractor Group experienced a 5.28% decline in annual tractor sales despite increasing market share by 0.19%. In FY '24, the company sold 90239 units, while in FY'23, the sales reached 95266 units.
Domestic tractor sales for John Deere Tractors decreased by 13.61%. In the fiscal year of '24, John Deere sold 71408 tractors, while in FY '23, tractor sales reached 82658 units. John Deere Tractors experienced a 0.62% decrease in their market share.
In fiscal year '24, New Holland Tractor experienced a 1.89% decrease in domestic tractor sales, dropping from 34697 units to 35367 units compared to FY'23. However, its market share increased by 0.21%.
Domestic sales of Kubota Tractor dropped by 27.90%. In the previous fiscal year (FY'24), there were 18538 tractor sales, while in FY'23, the sales reached 25710 tractors. In the fiscal year of 2024, Kubota Tractor also saw a decrease of 0.61% in market share.
Sales of Indo Farm Tractors also experienced a decline in FY'24. In the fiscal year 2024, the brand achieved sales of 5307 units, compared to 6445 units in FY’23, showing a clear decrease of 17.66% in domestic tractor sales. Indo Farm Tractor's market share decreased by 0.08%.
Preet Tractor reported a 14.12% decrease in domestic tractor sales, selling 5488 units in FY’24 compared to 6390 units in FY’23. In the fiscal year 2024, Preet Tractor's market share decreased by 0.05%.
VST Tractor experienced a decrease of 31.61% in domestic tractor sales during FY'24. In the fiscal year '24, VST Tractor company sold 3708 Tractor units, while in FY'23, they sold 5422 units. The company also experienced a 0.15% decline in market share.
Captain Tractor saw an increase in domestic tractor sales from 4254 units in FY'23 to 4548 units in FY'24, showing a growth of 6.91%. Furthermore, the company increased its market share by 0.07%.
In FY'24, ACE Tractor's market share declined by 19.49%. The company's sales of 2475 units exceeded the 3074 units sold in the previous year. Additionally, the company experienced a decrease in its market share by 0.04%.
In the fiscal year of 2024, SDF Tractor's market share saw a decrease of 31.90%. In fiscal year 2024, the company sold 698 units, compared to 1025 units sold in the previous year. The company also saw a decrease in its market share of 0.03%.
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