India's domestic tractor market saw dramatic growth in February, with overall sales at 59,165 units, a 14.28% rise from 51,774 units last year. This growth pattern is an indication of farmers' increasing demand for tractors even as some brands struggle. The rise in tractor sales indicates the robust agricultural sector, fueled by favorable government policies, enhanced mechanization, and increased farmer income.
Mahindra & Mahindra (M&M) Group also remained in control of the market by retailing 23,880 tractors, which was an 18.68% growth compared to 20,121 units from last year. The staggering increase also resulted in a 1.50% growth in market share, strengthening M&M's grip on the tractor market further.
TAFE Group recorded 9,555 tractor sales, a 13.01% increase from 8,455 units in the last year. Though there was a consistent increase in sales, TAFE's market share decreased marginally by 0.18%, indicating the increasing competition in the sector. The company is still one of the favorite options among farmers due to its long-lasting tractors and fuel-efficient engines.
Escorts Kubota retailed 7,968 tractors, a 9.62% increase over 7,269 units last year. In spite of a 0.57% decline in market share, the company edged past Sonalika to reach the third rank in the domestic tractor industry. The company's consistent performance is supported by its new-age tractor models, state-of-the-art technology, and farmer-friendly strategy.
Sonalika recorded sales of 7,670 tractors, posting a 10.98% growth compared to 6,911 units in the last year. Its market share decreased by 0.38%, reflecting heightened competition from the likes of Escorts Kubota and John Deere. Sonalika remains a market giant, providing high-performance tractors to cater to varied farm requirements.
John Deere showed strong growth, selling 5,771 tractors, a 14.57% increase from 5,037 units last year. The company also picked up 0.03% market share, indicating a consistent performance and increasing demand for its high-tech tractors. John Deere's emphasis on high-end features, fuel economy, and operator comfort has earned it a favorite among farmers.
New Holland posted 2,732 tractor sales, reflecting a 6.76% increase over 2,559 units last year. The brand declined by 0.33% in market share, indicating that it needs to implement firmer market strategies and customer engagement.
SDF Group showed spectacular growth, selling 419 tractors, a colossal 738.00% rise compared to 50 units of the previous year. The impressive growth also contributed to a 0.61% boost in market share, propelling the brand to become a competitor among many other brands. The improved sales of the brand show increasing acceptability among farmers as a result of its emphasis on advanced technology and efficient farm machinery.
Meanwhile, other brands experienced a decline in sales and market share. Preet sold 319 tractors, a 17.99% decline from 389 units last year. Indo Farm had 298 sales, a 16.06% decline from 355 units last year.
VST Tractors had 208 sales, a 12.24% decline from 237 units last year.
ACE Tractors retailed 183 units, recording a 7.02% growth from 171 units, while its market share fell marginally by 0.02%.
Captain Tractors recorded 162 units, registering a 26.36% decline from 220 units during the same period last year. The overall growth in tractor sales this February indicates the strong pace of the agricultural sector.
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