October 2023 Domestic Tractor Sales Report: 118232 Units Sold, Sales Down 3.93%-

The latest report on domestic tractor sales in October 2023 states a 3.93% decline from the October 2022 figures. Only 118,232 units were sold by the top companies in this industry in October 2023. They had sold 123,070 units the year prior. Financial experts, however, are still positive and see new possibilities in the next fiscal year.

October 2023 Domestic Tractor Sales Report - Brand Wise

In October 2023, Mahindra, a company that has long held the top spot in the tractor market, saw a 2.38% decline in sales from the same month the previous year. The company's market share did, however, rise by 0.66%. Regarding quantity, Mahindra sold 49,336 tractors in October 2023 instead of 50,539 in October 2022.

Additionally, the report indicates that the TAFE Group, the country's second-largest tractor manufacturer, saw a 2.65% rise in sales. Further, its market share increased by almost 1.17%. Regarding overall sales volume, TAFE sold 21,581 tractors in October 2023 compared to 21,023 in October 2022.

In October 2023, Sonalika sold about 15,662 tractors, according to the Domestic Tractor Sales Report for October 2023. Compared to their October 2022 sales of 16,268—a decrease of 3.73%—this represents a decrease. However, there was a 0.03% increase in Sonalika's market share.

8.68% fewer tractors were sold by Escorts Tractors in October 2023—12642—than in October 2022—when they sold 13843 tractors. But their market share fell by 0.56% as well.

Tractor sales for John Deere saw a significant decline in October 2023, with only 10,682 units sold. Compared to the 11,373 units sold in the same month the previous year, this represented a significant decrease. According to the October 2023 Domestic Tractor Sales Report, John Deere's market share dropped by 0.21%, and its sales fell by 6.08%.

New Holland is one brand that declined, selling about 4,568 units in October of 2023. In contrast, 4,652 units were sold in October of 2022. As a result, the company's market share dropped by 0.08%, and its growth rate fell by 1.81%.

Kubota, a well-known Japanese tractor manufacturer, saw a major drop in sales of 35.61% in October 2023, selling 1908 units. Comparing this number to the 2963 units sold in the same month in 2022, there was a clear drop. It's interesting to note that the company increased its market share by 0.79% despite this decline.

The Punjab-based Preet Tractor company saw a sharp decline in sales. 518 tractors were sold in October 2023, according to the Domestic Tractor Sales Report for that month. Compared to October 2022, when they sold 637 tractors, this represents a decrease of 18.68%. Additionally, the company's market share dropped by roughly 0.08%.

Indo Farm Tractor, like many other companies, had an unfavourable year. They sold 602 tractors in October of last year; in October of 2023, they only sold 453, a decrease in sales of roughly 24.75%. Their market share also dropped by almost 0.11%.

According to the report, Captain Tractor sold the same number of units—301—in October 2023 as they did in October 2022. This suggests that sales for Captain Tractor have not changed. Additionally, their market share was 0.01%.

On the other hand, ACE Tractors saw a decline in sales of roughly 17.92% and a 0.04% decline in market share.

With just 235 units sold in October 2023, VST Tillers and Tractors Ltd. saw a major drop in sales. Compared to the 436 units they sold in October 2022, this represented a significant decrease. They experienced a 46.10% decline in sales, which also caused their market share to drop by 0.16%.

SDF Tractors saw sales of 85 units in October 2023, a 26.09% decline from the 115 units sold in the same month last year. In addition, the business saw a minor decrease in its market share of about 0.02%.