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The domestic tractor sales report for August 2024 records a decline of 5.39 per cent compared to August 2023. In August 2024, all the top companies sold only 50134 units, whereas the sales were 52991 units in the previous year. However, financial experts remain optimistic and are expecting new opportunities in the coming financial year.
Brand-Specific Domestic Tractor Sales Report for August 2024
Long-time market leader Mahindra Tractor saw domestic sales fall by 0.62% to 20,518 units in August 2024 from 20,647 units sold in the same month last year. Despite this decrease, the company’s total market share increased by 1.96%.
As per reports, TAFE Group, India's second-most popular tractor maker, saw its sales dip 15.05%, with a close to 1.87% plunge in its market share. Furthermore, TAFE has sold 8,247 tractors in August 2024, while the August 2023 sale stood at 9,708 units.
In August 2024, Sonalika tractors sold about 6,493 , while in August 2023, the company sold 6,984, which is a clear cut of 7.03%. However, the market share has gone down by 0.23% for Sonalika.
Escorts Tractors sold 5,205 units in August 2024, a 0.13% increase from 5,198 units in August 2023. Their market share grew by 0.57%.
For August 2024, John Deere sold only 4,770 tractors, a decline from the 4,986 units sold last year. According to the August 2024 Domestic Tractor Sales Report, despite a 4.33% drop in sales, John Deere's market share grew by 0.11%.
In Aug 2024, New Holland sold 2,321 tractors, up 5.02% as compared to the previous year. However, the brand market share has a positive growth of only 0.46%.
Going ahead, the Japanese top tractor manufacturing company, Kubota, reported a decline of 16.36%. They were able to sell 1,038 units during August 2024. It was a big fall compared to 1,241 units in the same month of 2023. However, despite recording this decline, the company's market share decreased by just 0.27%.
On the other hand, the performance of Preet Tractor from Punjab was also low. According to the Domestic Tractor Sales Report for August 2024, the company has sold 349 tractors in this month. This is indeed down by 17.88% compared to the corresponding time last year, when the company had sold 425 tractors during August 2023. The market share also went down by almost 0.11% for the company.
Indo Farm Tractor also continued to have a tough season, which was more or less similar to other companies. They could sell only 322 tractors compared to last year's 440, showing a drop in sales of about 26.82%. Their market share has dipped by almost 0.19% now.
VST Tillers and Tractors Ltd. could sell only 315 units in August 2024. The number came down drastically from the 310 units they had managed to sell in August 2023. It is an increase of 1.61%, with their market share also reducing by 0.04% during the period.
According to the report, Captain Tractor has been able to sell 301 units in August 2024. This shows a decline in sales compared to the same month last year when they sold 550 units. This means that Captain Tractor saw its sales shrink by approximately 45.27%. Even though the sales had diminished, its market share decreased by 0.44%.
On the other hand, ACE Tractors showed a decline of about 13.25% in the volume of sales and their market share has declined by about 0.04%.
SDF Tractors sold approximately 39 units in August 2024, with a decline of about 9.30% over the sales volume, which was achieved with 43 units in the same period last year. Their market share remained the same without loss or gain.
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