By Suraj
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The Retail Tractor Sales Report for March 2023 reveals a positive growth trend with 3.83% growth in demand for compact tractors and farm implements.
FADA, Federation of Automobile Dealers Association, has released its latest tractor sales report for March 2023, showing a sales increase of 3.83% and sales of 81067 units. In March 2022, the retail sales for tractors were 72,891 units, which increased by 2997 units.
| Tractor Brands | March 2023 | March 2022 | Growth (%) | Market Share YoY (%) |
|---|---|---|---|---|
| Mahindra & Mahindra | 17,773 | 14,093 | 26.11 | 3.87 |
| Swaraj Division | 14,100 | 10,791 | 30.66 | 3.57 |
| Sonalika | 9,870 | 9,293 | 6.20 | 0.28 |
| Escorts Ltd | 9,009 | 6,577 | 36.97 | 2.69 |
| TAFE Ltd | 8936 | 7939 | 12.55 | 0.85 |
| John Deere | 6816 | 5553 | 22.74 | 1.30 |
| Eicher | 5129 | 5710 | -10.17 | -0.98 |
| New Holland | 3346 | 2483 | 34.75 | 0.95 |
| Kubota | 1955 | 1940 | 0.77 | -0.07 |
| VST | 426 | 570 | -25.26 | -0.20 |
| Force | 390 | 489 | -20.24 | -0.15 |
| Indo Farm | 332 | 457 | -27.35 | -0.18 |
| Preet | 309 | 473 | -34.67 | -0.23 |
| Other | 2676 | 11702 | -77.13 | -11.69 |
| Total | 81067 | 78070 | 3.83% | - |
Mahindra & Mahindra registered the highest-ever sales of 17,773 units in March 2023 against 14,093 units in March 2022. This tractor brand gained market share by 3.87% and witnessed 26.11% sales increase.
Swaraj Division, M&M's subsidiary tractor, stood in second position in terms of selling the highest number of tractors in March 2023. It sold 14,100 units, which was 10,791 units in March 2022. Like Mahindra, it also saw an increase in its market share by 3.57% and sales by 30.66%.
Sonalika tractor domestic sales for March 2023 recorded at 9,870 units which were 9,293 units last year for the same month. Additionally, YoY growth for this tractor brand reached 6.20%.
Escorts Ltd, a leading tractor brand in India, saw positive and incredible growth in its last month's sales. Escort's retail sales for March 2023 were 9,009 units against the 6,577 units of March 2022. The sales growth of this tractor brand noticed incredible growth of 36.97%.
TAFE Ltd's tractor sales increased by 12.55% and were recorded at 8,936 units; however, the last year's sale for the same month was recorded at 7,939 units, showing market share growth of 0.85%.
John Deere, a promising tractor brand, generated 6,816 sales in March 2023 against 5,553 units in March 2022.
Eicher recorded its last month's sales at 5,129 units, which shows a negative sales figure compared to last year. In March 2022, Eicher sold 5,710 units, showing a 7.31% decrease in its market share.
New Holland recorded a satisfactory sales figure as it sold 3,346 units against 2,483 units in March 2022. The market share of this popular tractor brand in India increased by 0.95%.
Kubota is a leading Japanese tractor brand known for manufacturing modern-looking tractors with high engine power and lifting capacity. This tractor brand sold out 1,955 units against 1,940 units last year. Further, the retail tractor sales and market share increased by 0.77% and 0.07%.
VST's March sales figure was recorded at 426 units which were 570 units last year. The company also lost market share by 0.20% and sales by 25.26%.
Force tractors witnessed 390 units sales against 489 units in March 2022, reflecting a decline of 20.24%.
Indo Farm's retail tractor sales officially registered at 332 units, which were 457 units in March 2022, showing a 27.35% drop in last month's sales.
Preet tractors registered 309 units of sales, nearly 164 units less than last year's sales, which recorded 473 units. Further, the market share of this tractor company also decreased by 0.23%.
Despite the above-mentioned tractor manufacturers, the remaining tractor brand sold 2,676 units against last year's 11,702 units. The data also shows that these emerging and non-popular tractor brands saw sales drop 77.13%.
FADA's latest retail tractor sales report shows that tractor brands sold 81,067 units collectively, where Mahindra & Mahindra, Swaraj Division, Sonalika, Escorts Ltd, and TAFE Ltd saw an increase in their sales figure. In contrast, VST, Force, Preet, and Eicher saw a drop in their sales compared to last year.
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