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October 2024 saw a 3.1% increase in tractor sales, with Mahindra & Mahindra leading, followed by gains for John Deere and CNH Industrial.
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:
Tractor OEM | Units Sold OCT'24 | Market Share (%) OCT'24 | Units Sold OCT'23 | Market Share (%) OCT'23 |
Mahindra & Mahindra Limited (Tractor) | 14,792 | 22.96% | 14,178 | 22.68% |
Mahindra & Mahindra Limited (Swaraj) | 11,227 | 17.42% | 11,065 | 17.70% |
TAFE Limited | 8,767 | 13.61% | 8,684 | 13.89% |
International Tractors Limited | 7,983 | 12.39% | 7,713 | 12.34% |
Escorts Kubota Limited | 6,043 | 9.38% | 6,267 | 10.03% |
John Deere India Pvt Ltd | 5,884 | 9.13% | 4,558 | 7.29% |
Eicher Tractors | 3,691 | 5.73% | 4,268 | 6.83% |
CNH Industrial (India) Pvt Ltd | 2,596 | 4.03% | 2,481 | 3.97% |
Kubota Agricultural Machinery India Pvt. Ltd. | 1,161 | 1.80% | 1,092 | 1.75% |
Others | 2,289 | 3.55% | 2,201 | 3.52% |
Total | 64,433 | 100% | 62,507 | 100% |
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.