The domestic tractor industry discloses the June 2022 domestic wholesale sales statistics which have declined by 14.42% with selling 94,477 units whereas 1,10,395 units were sold in June 2021.
Mahindra & Mahindra Group sold 9,825 tractor units, declining by 15% in June 2022 as compared to 46875 units sold in June 2021. As a result, the Mahindra market shares have also decreased by 0.3% as the company recorded 42.2% MS in June 2022.
Mr Hemant Sikka, President of Farm Equipment Sector of Mahindra & Mahindra, said, "We have sold 39825 tractors in the domestic market during June 2022. With good prices for Rabi output, cash flow with farmers is good. Government's approval of an increase in MSP for all Kharif crops and the forecast of a normal monsoon is very positive for a bumper Kharif crop. Though Kharif sowing is lagging in the first fortnight of the season than last year due to deficient rainfall in key Kharif states, further advancement of Southwest monsoons across the country brings in positive sentiments and is likely to boost the tractor demands in the coming months. In the exports market, we have sold 2023 tractors with a growth of 50% over last year".
TAFE Limited registered tractor sales of 17,808 units in June 2022, which declined by 17.3%, whereas the company sold 21,540 units in June 2021. The company recorded its market share of 18.8% during June 2022 which is a 0.07% decline from June 2021 MS.
Sonalika tractor sold 11,317 units in June 2022 and sold 12,881 units in June 2021 which clearly shows a 12.1% loss in sales for June 2022. Still, the company maintained its market share by 0.3%.
Escorts domestic tractor sales registered a downfall of 22.5%; it sold 9,265 units in June 2022 whereas the company sold 11,956 units in June 2021. As a result, the company’s market share declined by 1.0%.
The Escorts Brand said, "The industry wholesalers were impacted during the month of June 2022 due to the high base of last year. With onset of monsoon, and likely record Kharif crop production, rural liquidity and farmer sentiments are expected to gradually improve."
Also added, "In June 2022, growth trend continued in the Construction Equipment industry due to the low base of last year. With Government thrust on infrastructure, we expect growth momentum to continue in the current fiscal year 2022-23."
John Deere gained its market share by 1.0%, but the company sales decreased by 3.0% as it sold 8,036 units in June 2022 as against 8,287 units sold in June 2021.
New Holland sold 3,075 units and as a result, its sales declined by 7.2%. On the other side, the company shows its market share of 3.3% in June 2022 which increased by 0.3% compared to the previous year.
Kubota tractor registered a growth of 4.6% in domestic sales by selling 2,390 units in June 2022 whereas it sold 2,284 units in the last month. Likewise, the company also gained its market share by 0.5%.
Preet tractor recorded a loss of 23.1% by selling 546 units in June 2022 as against 710 units during the same month of last year. And the company registers its market share of 0.6% which is 0.1% less compared to June 2021.
Indo Farm tractor sold 515 units in June 2022 which is 8.8% lesser than last year. After facing the sales loss, the company has a subtle market share on break-even point (no profit no loss).
VST tractor recorded a huge loss in June 2022; sold 458 units which is 43.8% sunk as against last year. As a result, the company registered a 0.5% market share in June 2022 which decreased by 0.3% compared to the previous year.
Captain tractor registered a 19.6% downfall in domestic sales by selling 422 units in June 2022 compared to last year when the company sold 525 units.
Force tractor registered a 22.2% growth in domestic sales with 413 units sold in June 2022 against 338 units sold in June 2021. In addition, the Force company has gained its market share by 0.1%.
ACE tractor company recorded a decent hike in domestic sales by selling 335 units in June 2022 which is 76.3% higher than last year when it sold 190 units. Along with this, the company registered a market share of 0.4% which is 0.2% higher than the previous year.
Same Deutz Fahr tractor company faced a 36.8% loss as it sold 72 tractors in June 2022 as compared to 114 units in June 2021. On the other hand, the company has maintained its market share at a break-even point.
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