Domestic Tractor Sales Declined by 2.71% in April 2024

Key Highlights

• April 2024: Domestic tractor sales are down by 2.71%.
• Mahindra leads with 1.15% growth.
• TAFE sales dropped by 10.32%.
• Kubota, Preet sales decline significantly.

In April 2024, domestic tractor sales in India witnessed a drop of 2.71% compared to the previous year. The total number of tractors sold during this period was 76,945 units, showing a decrease from the 79,090 units sold in April 2023. This decline in sales reflects various factors influencing the agricultural machinery market in the country.

Table for Domestic tractor sales report for April 2024 by brand:

Mahindra Tractor

India's top tractor manufacturer, Mahindra Tractor, managed to sell 35,805 tractors in April 2024, a slight increase of 1.15% from the previous year when 35,398 tractors were sold. Mahindra's performance in the market was notable, as it experienced a 1.78% rise in market share during this period. Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd., attributed this growth to various factors including government procurement operations and positive rural sentiments due to favorable monsoon forecasts.

Also Read: Mahindra Tractor Sales Report April 2024: 1% Growth in Domestic Market, 23% Rise in Exports

TAFE

TAFE, another significant player in the tractor market, faced a substantial decline in domestic tractor sales by 10.32% in April 2024. The company sold only 13,004 units compared to 14,500 units in April 2023. This decline not only affected their sales figures but also resulted in a 1.43% decrease in their market share.

Sonalika International

Sonalika International, though witnessing a slight decrease in sales, remained competitive in the market. The company sold 9,649 tractors in April 2024, compared to 9,814 units in April 2023, marking a 1.68% decline. However, Sonalika's market share saw a marginal increase of 0.13%, indicating its resilience in a challenging market environment.

Escorts and John Deere

Escorts and John Deere, two prominent brands in the tractor industry, had mixed outcomes in April 2024. Escorts observed a 1.16% decrease in sales, selling 7,168 tractors, while John Deere saw a 5.23% increase with 5,779 units sold during the same period. Both companies managed to maintain their market shares with minor fluctuations, showcasing their adaptability to market dynamics.

Also Read: Escorts Kubota Tractor Sales Dip by 1.2% in April 2024

New Holland

New Holland, amidst the overall decline in the market, showed a slight improvement in sales. The company sold 2,867 tractors in April 2024, marking a 1.56% increase compared to April 2023 when it sold 2,823 tractors. Additionally, New Holland witnessed a positive growth of 0.16% in market share, indicating its strategic positioning in the market.

Kubota and Preet

Kubota and Preet, however, faced significant challenges in April 2024. Kubota experienced a substantial decrease of 34.26% in sales, selling only 1,324 units compared to 2,014 units in April 2023. Similarly, Preet faced a notable decline of 13.28%, with 405 tractors sold in April 2024, compared to 467 tractors sold in April 2023 reflecting the impact of market dynamics on individual brands.

Indo Farm and VST

Indo Farm and VST, too, witnessed steep drops in sales during April 2024. Indo Farm's sales declined by 26.67%, with only 352 tractors sold compared to 480 units in April 2023. Similarly, VST reported a 30.67% decrease in sales, selling only 208 tractors in April 2024, compared to 300 tractors sold in April 2023, highlighting the challenges faced by these brands in the current market scenario.

Also Read: VST Tractor Sales April 2024: Decline in Domestic Sales - 208 Tractors & 983 Power Tillers Sold

Captain Tractors

Captain Tractors, showed a decline of 38.84% in sales. The company sold 200 tractors in April 2024, compared to the 327 tractors sold in April 2023, with a 0.15% decline in market share.

ACE

Ace Tractors, showed a decline of 5.67% in sales. The company sold 133 tractors in April 2024, compared to 141 tractors sold in April 2023, with a decline of 0.01% in market share.

SDF

SDF showed a decline of 37.80% in sales. The company sold 51 tractors in April 2024, compared to 82 tractors sold in April 2023, with a decline of 0.04% in market share.

Overall Domestic Tractor Sales Drops

Despite the mixed performances of individual brands, the overall domestic tractor sales in April 2024 stood at 76,945 units, reflecting a decrease of 2.71% compared to 79,090 units sold in April 2023. This decline underscores the challenges faced by the agricultural machinery sector in India amidst evolving market dynamics and economic factors.

Also Read: Tractor Market Analysis: April 2024 Retail Sales Record 1% Growth, with 56,625 Tractors Sold

CMV360 Says

The domestic tractor sales report for April 2024 reflects a 2.71% decrease compared to the previous year, with 76,945 units sold. While some brands experienced marginal growth, others faced significant declines. Despite the challenges, the agricultural machinery sector remains dynamic and resilient. Stay updated with CMV360 for more insights on tractor sales reports and industry developments.