Domestic Tractor Sales Declined by 22.67% in March 2024: 63,755 Units Sold

Key Highlights

• March 2024: Domestic tractor sales in India are down by 22.67%.
• 63,755 units sold compared to 82,450 in March 2023.
• Mahindra leads with 24,276 units sold.
• TAFE, Sonalika International, Escorts, and John Deere also report declines.
• Kubota experiences a significant 48.90% drop in sales.

In a reflection of the challenges faced by the agricultural machinery sector, domestic tractor sales in India experienced a significant decline of 22.67% in March 2024. According to data compiled by industry experts, 63,755 tractors were sold during this period, compared to 82,450 units sold in March 2023. While this decline presents a notable setback, industry insiders are hopeful for a renewal in the forthcoming season.

Domestic Tractor Sales Report March 2024 - Brand Wise

Mahindra Tractor

India's leading tractor manufacturer, Mahindra Tractor, reported sales of 24,276 units in March 2024, reflecting a 27.80% decrease from the previous year's sales of 33,622 tractors. Despite this decline, Mahindra remains a dominant player in the market, although experiencing a 2.70% loss in market share.

Also Read: Mahindra Tractor Sales Report March 2024: Domestic Market Sales Drop by 28%, Exports Up by 26%

TAFE

TAFE, another prominent brand, witnessed a 20.45% decrease in sales, with 10,878 units sold in March 2024 compared to 13,674 units in March 2023. TAFE's market share stands at 0.48%, indicating a slight dip.

Sonalika International

Sonalika International recorded sales of 8,682 tractors in March 2024 compared to 10616 units in March 2023, marking an 18.22% decrease from the previous year. However, the brand's market share saw a marginal increase of 0.74%.

Escorts

Escorts, a key player in the industry, reported sales of 8,054 tractors in March 2024 compared to the 9,601 units in March 2023, experiencing a 16.11% decline from the previous year. Nevertheless, the company managed to increase its market share by 0.99%.

Also Read: Escorts Kubota Tractor Sales Drop by 16.7% in March 2024

John Deere

John Deere's sales stood at 5,523 tractors in March 2024 compared to the 5931 units in March 2023, representing a 6.88% decrease from the previous year. Despite this, the brand witnessed a 1.47% increase in market share.

New Holland

New Holland reported a 17.40% decrease in sales, with 3,062 units sold in March 2024 compared to 3,707 units in March 2023. However, the brand's market share experienced a slight growth of 0.31%.

Kubota

Kubota faced a significant decline of 48.90% in sales, with only 1,301 units sold in March 2024 compared to 2,546 units in March 2023. The company's market share also decreased by 1.05%.

Captain Tractor

Captain Tractor faced a significant decline of 3.79% in sales, with only 482 units sold in March 2024 compared to Tractors sold in March 2023. The company's market share also decreased by 0.15%.