On April 8, 2024, the Federation of Automobile Dealers Associations (FADA) released data concerning tractor sales at retail outlets. The figures indicated that in March 2024, 78,446 tractors were sold, a drop from the 81,148 units sold in March 2023. This indicates a decline of 3.33% in tractor sales across India in March 2024. The decrease in overall sales was also seen in the performance of individual tractor brands, as shown in the report's sales figures for each brand.
In March 2024, Mahindra sold 17,937 tractors, which is more than the 17,775 tractors it sold in the same month the previous year. This represents a sales growth of 0.91%. Additionally, the company's market share increased by 0.97% in March 2024.
Swaraj Tractor, a division of Mahindra & Mahindra, experienced a 2.52% increase in tractor sales in March 2024 compared to March 2023. They sold 14,467 units in March 2024, up from 14,111 units in March 2023. Additionally, Swaraj Tractors' market share grew by 1.05%.
In 2024, INTERNATIONAL TRACTORS LIMITED sold 10,350 tractors in India, a 4.82% increase from the 9,874 units sold in March 2023. The company also expanded its market share by 1.02%.
TAFE Limited saw a market share increase of 0.52% and sold 1.23% more tractors at retail. In March 2024, they sold 9,057 units, compared to 8,947 units in March 2023.
Escorts Tractor sold 7,561 units in March 2024, more than the 9,014 units sold in March 2023. This indicates a 16.12% decrease in sales for March 2024. Despite the increase in sales, the company's market share decreased by 1.47%.
John Deere Tractor sold 5,639 units in March 2024, slightly less than the 6,798 units sold in March 2023. This indicates a 17.05% decrease in tractor sales compared to last year. Additionally, the company's market share dropped by 1.19% in March 2024.
Eicher Tractor sold 5,271 units in March 2024, 2.67% more than the 5,134 units sold in March 2023. Furthermore, the company increased its market share by 0.39%.
New Holland Tractor recorded 3,352 unit sales in March 2024, a slight decline from the 3,354 units sold in March 2023, indicating a 0.06% decrease in March 2024. However, the company gained market share by 0.14% in the same month.
Kubota Tractor's retail tractor sales dropped by 18.68% in March 2024 compared to March last year. They sold 1,589 units this March, less than the 1,954 units sold in March last year. This decrease in sales resulted in their market share growing slightly less compared to last year, by about 0.38%.
In March 2024, VST Tillers & Tractors sold 318 units, 25.53% less than the 427 units sold in March 2023. Additionally, their retail market share dropped by 0.12%.
Apart from this brand, other brands experienced a 22.74% decrease in sales in March 2024. The number of tractor sales in March 2024 was 2,905 units, compared to 3,760 units in March 2023. Consequently, the market share also decreased by 0.92% in the same month.
DOMESTIC TRACTOR SALES DROPPED BY 7.07% IN FY24: SOLD 874504 TRACTOR
MARCH 2024 DOMESTIC TRACTOR SALES REPORT: DECREASE OF 22.67%, 63,755 UNITS SOLD
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