By Ayushi Gupta
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The FADA released the January 2024 tractor sales report, indicating an increase in overall retail sales compared to the previous year. Mahindra & Mahindra, Swaraj Division, and International Tractors Limited were among the top performers, while some brand
In January 2024, retail tractor sales stood at 78,872 units, against 78,700 units in January 2023.
The Federation of Automobile Dealers Association (FADA) has released the tractor sales report of national and international tractor brands selling tractors in the Indian market. According to this recent report, retail tractor sales for January 2024 increased by 15,487 units.
Retail Tractor Sales Report for January 2024: Detailed Overview
Mahindra & Mahindra again stood at the top position in selling the highest number of tractors in the domestic market and export. Mahindra & Mahindra reported the sale of 20,474 units of tractors in January 2024, an increase from the 16,969 units sold in the same month last year. Moreover, if we talk about growth, M&M acquired a market share of 23.09%.
Swaraj Division, a subsidiary of Mahindra & Mahindra Ltd, also contributed significantly to the company's overall success. With retail tractor sales of 16,456 units in January 2024, compared to 12,465 units in January 2023, the Swaraj Division secured a commendable market share of 18.56%.
International Tractors Limited showcased a robust performance by registering retail tractor sales of 11,515 units in January 2024, a notable increase from the 8,952 units sold in the same period the previous year. The company now commands a market share of 12.99%, indicating positive growth in a competitive market.
The retail sales of TAFE tractors stood at 11,003 units, and last year's sales for the same month were 7,966 units, securing a market share of 12.41%.
Escorts Ltd, operating under the Agri Machinery Group, also witnessed an uptick in sales. The company sold 8,185 tractors in January 2024, compared to 7,675 units in January 2023, securing a market share of 9.23%. Escorts Ltd's performance underscores its continued efforts to meet the demands of the agricultural sector.
Also Read: December 2023 FADA Tractor Retail Sales Report: Tractor sales closed at 0.2% YoY growth
Eicher, another prominent player in the tractor market, recorded sales of 6,226 units in January 2024, compared to 4,902 units in January 2023. The brand now commands a market share of 7.02%, indicating a positive growth.
John Deere India Pvt Ltd. experienced a slight dip in sales, with 5,739 units sold in January 2024, as opposed to 5,782 units in January 2023. Despite the decrease, the brand maintains a respectable market share of 6.47%.
C.N.H. Industrial India, commonly known as New Holland, reported sales of 3,501 units, a marginal increase from the 2858 units sold in January 2023. This secures a market share of 3.95% for the brand.
Kubota Agricultural Machinery India Pvt. Ltd witnessed a decline in sales, with 1,732 units sold in January 2024 compared to 2,324 units in the same month the previous year. The brand now holds a market share of 1.95%.
Captain Tractors Pvt. Ltd reported sales of 921 units, up from 236 units in January 2023, securing a market share of 1.04%.
V.S.T. Tiller Tractors saw a decline in sales, recording 483 units in January 2024 compared to 568 units in January 2023, leading to a market share of 0.54%.
Adico Escorts Agri Equipments Pvt. Ltd achieved sales of 396 units, marking a notable increase from 104 units in January 2023, resulting in a market share of 0.45%.
In contrast to these major players, other tractor manufacturers collectively sold 2,040 units in January 2024, down from 2,383 units in the same month of 2022. This accounts for a 2.30% market share, indicating some fluctuations in the overall market.
The tractor industry continues to be dynamic, with various brands navigating changing market trends and consumer preferences.
Conclusion
In January 2024, retail tractor sales stood at 88,671 units, against 73,184 units in January 2023. Additionally, tractor brands like Mahindra & Mahindra, Swaraj Division, International Tractors Limited, Escorts Ltd, TAFE, Eicher Tractors, C.N.H. Industrial Pvt. Limited, Adico Escorts Agri Equipments Pvt. Ltd and Captain Tractors Pvt. Ltd. witnessed increased sales.
In contrast, John Deere, Kubota Agricultural Machinery, and V.S.T. Tillers Tractors Limited saw a slight drop in January 2024 sales.