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The Federation of Automobile Dealers Associations (FADA) has published its October 2024 tractor retail sales report, showing steady growth in tractor sales compared to the previous year. A total of 64,433 tractors were sold in October 2024, up from 62,507 units in October 2023. This increase highlights a strong demand and market resilience, with several major brands maintaining their positions or gaining market share.
Below is a table showing the Tractor OEM market share for October 2024 compared to October 2023:
Mahindra & Mahindra Limited (Tractor Division) led the market with a 22.96% market share in October 2024, selling 14,792 units, a slight increase from the 14,178 units and 22.68% market share they held in October 2023.
Swaraj, a Mahindra sub-brand, held a 17.42% market share in October 2024, with 11,227 units sold. This reflects a slight decrease from October 2023, when they sold 11,065 units with a 17.70% market share.
TAFE Limited, the makers of Massey Ferguson tractors, maintained a strong market presence with a 13.61% market share and 8,767 units sold in October 2024, almost steady compared to their 13.89% market share and 8,684 units sold in October 2023.
International Tractors Limited the parent company of Sonalika Tractors held a 12.39% market share with 7,983 units sold in October 2024, showing stability from their 12.34% market share and 7,713 units sold in October 2023.
Escorts Kubota Limited experienced a slight decline in their market share, holding 9.38% in October 2024 with 6,043 units sold, down from 10.03% with 6,267 units in October 2023.
John Deere made notable gains, increasing its market share to 9.13% in October 2024, with 5,884 units sold. This is a significant rise from 7.29% market share and 4,558 units sold in October 2023.
Eicher Tractors held a 5.73% market share in October 2024 with 3,691 units sold, down from its 6.83% market share and 4,268 units sold in October 2023.
CNH Industrial, the manufacturer of New Holland tractors, saw a slight increase in its market share, reaching 4.03% in October 2024 with 2,596 units sold, compared to 3.97% market share and 2,481 units sold in October 2023.
Kubota Agricultural Machinery India held a 1.80% market share in October 2024, with 1,161 units sold, a minor increase from their 1.75% market share and 1,092 units sold in October 2023.
Other brands collectively accounted for 3.55% of the market share in October 2024, with 2,289 units sold, slightly higher than their 3.52% market share and 2,201 units sold in October 2023.
Also Read: Retail Tractor Sales Report for September 2024: Growth of 14.65% in Sales
In total, the tractor market in India sold 64,433 units in October 2024, marking growth from 62,507 units in October 2023. While Mahindra & Mahindra remains the market leader, other brands such as John Deere and CNH Industrial also showed impressive gains, reflecting positive trends in India’s tractor industry.
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