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The Indian tractor market continued to show resilience in November 2024 with retail sales of 80,519 units as against 61,996 units in November 2023, up 29.88% over last year.
Mahindra & Mahindra sold 19,526 tractors in November 2024, up 34.78% from 14,487 units sold in November 2023. The market share of the company increased to 24.25% in November 2024 from 23.37% in November 2023, up 0.88%.
The Swaraj Division of Mahindra & Mahindra sold 14,696 units in November 2024, while it had sold 11,495 units in the same month of the previous year and thus recorded growth of 27.85 percent. Its market share went marginally down to 18.25% in November 2024 compared to 18.54% seen in November 2023, down by 0.29 percent.
International Tractors Limited had sales of 10,858 units for November 2024 against 8,293 for November 2023, thus showing a growth of 30.93%. The Company further saw its market share grow by 0.11% to 13.49% during the month under review, from 13.38% in November 2023.
TAFE Limited sold 9,383 units in November 2024, a 29.71% increase on the 7,234 units sold in November 2023. It held an 11.65% market share in November 2024 against 11.67% a year ago - down by 0.02% only.
For Escort Kubota Limited, it sold 7,395 units in November 2024 against 6,272 units in November 2023, up 17.90%, but its market share dipped from 10.12% in November 2023 to 9.18% in November 2024 - a fall of 0.94%.
John Deere India Pvt Ltd sold 5,982 units in November 2024, up 35.25% from 4,423 units sold in November 2023. Market share was up at 7.43% in November 2024 from 7.13% in November 2023, up 0.30%.
Eicher Tractors reported sales of 5,557 units in November 2024, recording an increase of 22.78 percent over the sales of 4,526 units in November 2023. The market share fell 0.40 percent at 6.90 percent in November 2024, from 7.30 percent recorded in November 2023.
CNH Industrial sold 3,102 units in November 2024, up 32.68% from 2,338 units sold in November 2023. Market share has increased marginally from 3.77% in November 2023 to 3.85% in November 2024, up 0.08%.
Kubota Agricultural Machinery India Pvt Ltd sold 1,273 units in November 2024, up from the earlier 26.29 percent gain sold in November 2023, when it recorded 1008 units. It also dipped in market share from its November 2023 stake of 1.63 to November 2024 figures of 1.58 percent, therefore going down 0.05 percent.
Other Brands put together sold 2,747 units in November 2024, up 43.07% from the 1,920 units sold in November 2023. Market share increased from 3.10% in November 2023 to 3.41% in November 2024, up 0.31%.
In November 2024, the Indian retail tractor market continued to enjoy very strong growth, with overall sales up nearly 30% year-over-year. Double-digit increases were reported by all major brands, with Mahindra & Mahindra leading in terms of volume while John Deere enjoyed one of the largest percentage gains. However, some of these brands lost minor portions of their market share during the period, which really signifies increasing competition in the industry.
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