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Domestic tractor sales grew by 22.37% in October 2024, with 1,44,675 units sold. M&M Group led the market growth.
The domestic tractor industry witnessed significant growth in October 2024, with sales rising by 22.37% compared to October last year. A total of 1,44,675 tractors were sold in October 2024, up from 1,18,232 units in October 2023, showcasing the strength of the agricultural sector and the rising demand for tractors in India.
Also Read: Domestic Tractor Sales Report September 2024: Sales Increased by 3.74%, 1,00,542 Units Sold
Manufacturer | Oct'24 Sales | Oct'23 Sales | % Growth | Market Share Oct'24 | Market Share Oct'23 | Market Share YoY Change |
M&M Group | 64,326 | 49,336 | 30.38% | 44.46% | 41.73% | +2.73% |
Tafe Group | 25,014 | 21,581 | 15.91% | 17.29% | 18.25% | -0.96% |
Sonalika | 18,002 | 15,662 | 14.94% | 12.44% | 13.25% | -0.80% |
Escorts Kubota | 17,839 | 14,550 | 22.60% | 12.33% | 12.31% | +0.02% |
John Deere | 11,483 | 10,682 | 7.50% | 7.94% | 9.03% | -1.10% |
New Holland | 5,744 | 4,568 | 25.74% | 3.97% | 3.86% | +0.11% |
Preet | 546 | 518 | 5.41% | 0.38% | 0.44% | -0.06% |
VST | 502 | 235 | 113.62% | 0.35% | 0.20% | +0.15% |
Indo Farm | 485 | 453 | 7.06% | 0.34% | 0.38% | -0.05% |
ACE | 370 | 261 | 41.76% | 0.26% | 0.22% | +0.03% |
Captain | 267 | 301 | -11.30% | 0.18% | 0.25% | -0.07% |
SDF | 97 | 85 | 14.12% | 0.07% | 0.07% | 0.00% |
Total | 1,44,675 | 1,18,232 | 22.37% | 100.00% | 100.00% |
Mahindra led the market in October 2024 with sales of 64,326 units, a growth of 30.38% compared to 49,336 units in October 2023. Their market share also increased from 41.73% to 44.46%, a positive jump of 2.73%.
Also Read: Mahindra Tractor October 2024 Sales Report: 65,453 Units, 30% Growth
Tafe Group, another prominent player, recorded sales of 25,014 units, up by 15.91% from last year. However, their market share slightly declined from 18.25% to 17.29%, a decrease of 0.96%.
Also Read: TAFE Wins Interim Relief in Massey Ferguson Brand Dispute
Sonalika sold 18,002 tractors in October 2024, showing a growth of 14.94%. Despite the increase in sales, their market share fell slightly from 13.25% to 12.44%, a decline of 0.80%.
Also Read: Sonalika Tractors Achieves Record Sales with 20,056 Tractors Sold in October 2024
Escorts Kubota achieved a sales growth of 22.60%, selling 17,839 units. Their market share saw a minor increase from 12.31% to 12.33%, indicating a stable performance.
Also Read: Escorts Kubota October 2024 Sales Report: 18,110 Units, 19.8% Growth
John Deere sold 11,483 units, reflecting a growth of 7.50%. However, their market share dropped from 9.03% to 7.94%, a decline of 1.10%, showing that despite sales growth, their hold on the market weakened.
New Holland sold 5,744 units, marking a growth of 25.74% from October 2023. Their market share rose slightly from 3.86% to 3.97%, an increase of 0.11%.
Preet sold 546 units, up by 5.41% compared to last year. However, their market share decreased slightly from 0.44% to 0.38%, a decline of 0.06%.
VST achieved remarkable growth, with sales doubling to 502 units, a 113.62% increase. Their market share also increased from 0.20% to 0.35%, up by 0.15%.
Also Read: VST Tillers Tractors Sales Report October 2024: 1,783 Power Tillers and 680 Tractors Sold
Indo Farm saw moderate growth, selling 485 units, up by 7.06% from last year. However, their market share decreased from 0.38% to 0.34%, down by 0.05%.
ACE recorded strong growth, selling 370 tractors, a rise of 41.76%. Their market share increased slightly from 0.22% to 0.26%, up by 0.03%.
Captain's performance declined, with sales dropping to 267 units, down by 11.30%. Their market share also fell from 0.25% to 0.18%, a YoY decline of 0.07%.
SDF sold 97 units, showing a growth of 14.12%. Their market share remained unchanged at 0.07%.
In October 2024, the domestic tractor industry demonstrated impressive growth, with total sales reaching 1,44,675 units, marking a year-on-year growth of 22.37%. M&M Group (Mahindra) maintained its lead, showing strong sales growth and an increased market share. While most brands achieved positive growth, a few, like John Deere and Captain, saw a drop in their market shares. Overall, the tractor industry continues to show resilience and upward momentum, benefiting from robust demand and a favorable agriculture environment.
Also Read: Retail Tractor Sales Report for October 2024: Growth of 3.08% in Sales
The domestic tractor industry showed impressive growth in October 2024, with total sales rising by 22.37% to reach 1,44,675 units. M&M Group led the market, while most brands saw positive sales momentum. However, a few manufacturers experienced declines in market share despite sales growth, highlighting the competitive nature of the tractor industry in India.