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Tractor sales in July 2024 fell by 11.95%, with key brands experiencing mixed results amid market challenges.
On August 5, 2024, the Federation of Automobile Dealers Associations (FADA) released the retail tractor sales data for July 2024. The report reveals a notable decline of 11.95% in tractor sales compared to the same month last year. A total of 79,970 tractors were sold in July 2024, down from 90,821 units sold in July 2023.
The sales performance of various tractor brands shows significant variations:
Tractor OEM | JULY 2024 SALES | MARKET SHARE (%) | JULY 2023 SALES | MARKET SHARE (%) |
Mahindra & Mahindra Limited (Tractor) | 18,422 | 23.04% | 20,914 | 23.03% |
Mahindra & Mahindra Limited (Swaraj Division) | 16,265 | 20.34% | 16,383 | 18.04% |
International Tractors Limited | 11,141 | 13.93% | 11,063 | 12.18% |
Escorts Kubota Limited (Agri Machinery Group) | 8,274 | 10.35% | 8,534 | 9.40% |
TAFE Limited | 7,884 | 9.86% | 12,420 | 13.68% |
John Deere India Pvt Ltd (Tractor Division) | 6,251 | 7.82% | 5,529 | 6.09% |
Eicher Tractors | 5,420 | 6.78% | 6,796 | 7.48% |
CNH Industrial (India) Pvt Ltd | 3,018 | 3.77% | 3,191 | 3.51% |
Kubota Agricultural Machinery India Pvt Ltd | 1,461 | 1.83% | 1,876 | 2.07% |
Others | 1,834 | 2.29% | 4,115 | 4.53% |
Total | 79,970 | 100% | 90,821 | 100% |
Mahindra & Mahindra sold 18,422 tractors in July 2024, showing a decrease of 11.92% compared to 20,914 units sold in July 2023. Despite the drop in sales, the company's market share remained relatively stable, with a slight increase to 23.04%.
Also Read: Mahindra & Mahindra Reports 8% YoY Growth in Tractor Sales for July 2024
Swaraj Tractor, a division of Mahindra, experienced a minor decline of 0.72% in sales, with 16,265 units sold in July 2024 compared to 16,383 units in July 2023. However, Swaraj Tractor's market share grew to 20.34%, reflecting a 2.30% increase.
International Tractors Limited saw a slight increase in sales with 11,141 units sold in July 2024, up from 11,063 units in July 2023. The company's market share improved to 13.93%, up by 1.75%.
Also Read: Sonalika Sets Record with 50,000 Tractor Sales from April to July 2024
Escorts Kubota's sales declined by 3.05% to 8,274 units in July 2024, compared to 8,534 units in July 2023. Despite this decrease, their market share increased by 0.95%.
Also Read: Escorts Kubota Sold 5,769 Tractors in July 2024, Achieving a 3.6% Growth
TAFE Limited's sales fell significantly by 36.52% to 7,884 units in July 2024 from 12,420 units in July 2023. The company experienced a corresponding decline in market share by 3.82%.
John Deere India reported a 13.06% increase in sales, with 6,251 units sold in July 2024 compared to 5,529 units in July 2023. The company's market share also saw a rise, increasing by 1.73%.
Eicher Tractors experienced a 20.25% decrease in sales, with 5,420 units sold in July 2024 compared to 6,796 units in July 2023. The company's market share decreased by 0.70%.
CNH Industrial saw a 5.42% drop in sales, selling 3,018 units in July 2024 compared to 3,191 units in July 2023. Despite the decrease, the company's market share increased slightly by 0.26%.
Kubota's sales declined by 22.12% to 1,461 units in July 2024 from 1,876 units in July 2023. Their market share saw a minor decrease of 0.24%.
Other brands collectively sold 1,834 units in July 2024, marking a 55.43% decrease compared to 4,115 units in July 2023. Their market share also fell by 2.24%.
The decline in overall tractor sales reflects a challenging market environment, with various brands experiencing mixed outcomes in July 2024.
In July 2024, tractor sales dropped by 11.95%, with a total of 79,970 units sold. While major brands like Mahindra and TAFE saw declines, others like John Deere and International Tractors showed growth. The market's overall contraction highlights the ongoing challenges within the agricultural machinery sector.