Domestic Tractor Sales Report July 2024: 1.94% Sales Growth with 59,530 Units Sold

Key Highlights

• Domestic tractor sales increased by 1.94% in July 2024.
• Mahindra sold 25,587 units, up 5.87%.
• John Deere sales grew by 10.56%.
• Kubota faced a significant decline, down 32.54%.

In July 2024, domestic tractor sales in India saw a modest rise of 1.94%, with brands selling 59,530 tractors compared to 58,395 in July 2023.

Domestic Tractor Sales Report July 2024 - Brand Wise

M&M Group

India's leading tractor manufacturer, Mahindra, achieved significant sales figures in July 2024, selling 25,587 tractors. This marks a 5.87% increase compared to the 24,168 units sold in July 2023. During this period, Mahindra also gained 1.59% in market share, reflecting their robust market presence and strategic growth.

TAFE Group

TAFE experienced a slight dip in sales, with 10,284 tractors sold in July 2024, representing a 1.98% decrease from the 10,492 units sold in July 2023. Correspondingly, TAFE’s market share dropped by 0.69%, indicating a minor setback in their overall market performance.

Sonalika

Sonalika reported sales of 7,493 tractors in July 2024, a decrease of 2.35% from the 7,673 units sold in July 2023. Additionally, the brand saw a 0.55% decrease in market share. Despite the reduction in sales, Sonalika continues to maintain a significant market presence.

John Deere

John Deere saw positive growth, selling 5,614 tractors in July 2024, up 10.56% from 5,078 units sold in July 2023. The brand's market share increased by 0.73%, reflecting their successful market strategies and increasing demand for their tractors. Notably, John Deere's sales were higher than Escorts in July 2024.

Escorts

Escorts sold 5,346 tractors in July 2024, a 3.58% increase from the 5,161 units sold in July 2023. Despite the sales growth, the brand experienced a slight rise in market share by 0.14%, indicating competitive pressures in the market.

New Holland

New Holland sold 2,201 tractors in July 2024, showing a 7.79% increase compared to 2,042 units sold in July 2023. The brand also saw a 0.20% increase in market share, indicating its growing acceptance and demand in the market.

Kubota

Kubota faced a significant decline, selling 1,194 tractors in July 2024, down 32.54% from 1,770 units in July 2023. Additionally, their market share decreased by 1.03%, highlighting challenges faced by the brand in maintaining its market position.

Captain

Captain Tractor sold 482 units in July 2024, marking a substantial 20.46% decline from the 606 units sold in July 2023. The brand experienced a 0.23% drop in market share, indicating a need for strategic adjustments to regain market strength.

Preet

Preet reported sales of 399 tractors in July 2024, a 1.48% decrease from the 405 units sold in July 2023. The report also highlights a minor downward trend in market share by 0.02%, suggesting steady but challenging market performance.

Indo Farm

Indo Farm sold 352 tractors in July 2024, reflecting an 8.57% decrease from 385 units sold in July 2023. The company's market share dropped by 0.07%, indicating the competitive challenges in the industry.

VST

VST sold 340 tractors in July 2024, down 4.23% from 355 units sold in July 2023. Despite the decline, their market share saw a slight decrease of 0.04%, suggesting stable market performance with room for improvement.

ACE

ACE experienced a major decline in sales, with 188 tractors sold in July 2024, down 9.62% from 208 units sold in July 2023. Their market share also dropped by 0.04%, indicating significant competitive pressures and market challenges.

SDF

SDF sold 50 tractors in July 2024, a 3.85% decrease from the 52 units sold in July 2023. This resulted in a slight market share decrease of 0.01%, reflecting the competitive landscape of the market.

Overall Market Performance

The domestic tractor sales report for July 2024 depicts a total of 59,530 tractors sold, compared to 58,395 units sold in July 2023. This led to a 1.94% increase in domestic tractor sales in July 2024, showcasing a generally positive trend in the tractor industry despite some individual brand challenges.

Also Read: Retail Tractor Sales Report for July 2024: A Decline of 11.95%

CMV360 Says

The domestic tractor market in India saw a 1.94% increase in July 2024, with 59,530 units sold. While leading brands like Mahindra and John Deere experienced growth, others faced declines, reflecting varied market dynamics and competitive pressures in the industry.