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On November 6, 2024, FADA released the October Retail Tractor Sales Data. According to the statistics, sales of tractors have grown from 62,507 units in October 2023 to 64,433 units in October 2024. As a result, in October 2024, tractor sales in India increased by 3.08 per cent.
Mahindra & Mahindra Ltd (Tractor) reported selling 14,792 units in October 2024. The company reported sales of 14,178 units in October 2023. Compared with the same period last year, the market share has gone up by a percentage of 0.28% from 22.68% in 2023 to 22.96% in 2024.
Swaraj sold 11,227 units in October 2024 compared with 11,065 units sold in October 2023, which is an increase of 1.46%. The market share of the company went down to 0.28% from 17.70% in 2023 to 17.42% in 2024.
TAFE Limited sold 8,767 tractors, representing a slight increase from last year's 8,684 tractors in October 2023. The figure represents a rise of 0.96%. Their market share declined a bit, from 13.89% last year to 13.61% this year, hence declined by 0.28%.
International Tractors Ltd sold 7,983 units in October 2024. In the month of October 2023, it sold 7,713 units, which clearly states that there was an increase of 3.50% in selling the units. Its market share also grew a bit, which is from 12.34% to 12.39%. As such, there has been a positive change of 0.05% here also. This points out that the company's growth is not only increasing with respect to sales, but also with respect to the market.
Escorts Kubota Limited (Agri Machinery Group) sold 6,043 tractors in October 2024, a decline of 3.57% from the 6,267 units it sold in October 2023. Its market share also dipped from 10.03% last year to 9.38% this year, down by 0.65%.
Furthermore, John Deere India Pvt Ltd (Tractor Division) sold as many as 5,884 tractors in October 2024 as compared to 4,558 units in the same period last year, and that has reflected a strong growth of 29.9%. Their market share also witnessed an increase, which was at 7.29% last year, and this time, it increased to 9.13%, an addition of 1.84%.
Eicher Tractors sold 3,691 units during the month of October in the year 2024 compared to 4,268 units in October last year; hence, a slide of 13.52% was reported. During this period, market share dipped from 6.83% in the preceding year to 5.73% in this year, thereby falling 1.10%.
Now, when we talk about CNH Industrial (India) Pvt Ltd, they sold 2,596 tractors in October 2024, which is up from 2,481 units in October 2023. It is a growth of 4.64%. Their market share also improved marginally. They had 3.97% last year, and now they have 4.03%, which is an increase of 0.06%.
The company, Kubota Agricultural Machinery India Pvt Ltd., has also reported good growth in recent performance by increasing 6.32%. It could sell 1,161 tractors in the quarter under review. Market share has grown a little to 0.05%.
Other categories sold were 2,289 units in October 2024. Still, its sales have witnessed a healthy growth of 4.00%. The company could garner an uptick in market share at 3.55% as against 3.52% of the last October 2023. An increase of 0.03%. This indicates excellent performance and a better market position for this segment.
Overall, in October 2024, most of the companies increased their unit sales compared to October 2023. Mahindra & Mahindra Ltd (Tractor) was the highest seller with 14,792 units. Some of the companies, like TAFE and Escorts Kubota, lost a small amount of market share despite higher sales.
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