Retail Tractors Sales Report May 2024 - Tractor Sales Decline by 1.06%, 70,065 Units Sold
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FADA's May 2024 report shows a 1.06% drop in tractor sales with Mahindra leading, Sonalika growing, and Kubota facing decline.
Key Highlights
- Tractor sales fell by 1.06% in May 2024, indicating a challenging market environment.
- Mahindra & Mahindra's sales increased by 0.57%, but its market share decreased by 0.37%.
- Sonalika Tractors witnessed a notable 4.30% growth in sales and expanded its market share by 0.68%.
- Kubota Tractor faced a significant 29.58% decrease in sales, leading to a 0.67% drop in market share.
The Federation of Automobile Dealers Associations (FADA) has released its Retail Tractor Sales Data for May 2024. The report highlights a slight decline in tractor sales, with 70,065 units sold compared to 70,813 units in May 2023, marking a decrease of 1.06%.
Retail Tractor Sales Table for May 2024:
Brand | Sales (May 2024) | May '24 Market Share | Sales (May 2023) | May '23 Market Share | Sales Growth | Market Share Change |
Mahindra & Mahindra | 15,926 | 22.73% | 15,836 | 22.36% | +0.57% | -0.37% |
Mahindra & Mahindra (Swaraj) | 13,093 | 18.69% | 12,776 | 18.04% | +2.48% | +0.65% |
Sonalika Tractors | 9,225 | 13.17% | 8,845 | 12.49% | +4.30% | +0.68% |
TAFE Limited | 8,515 | 12.15% | 8,932 | 12.61% | -4.67% | -0.46% |
Escorts Limited (Agri) | 7,655 | 10.93% | 7,671 | 10.83% | -0.21% | +0.10% |
John Deere India (Tractor) | 5,149 | 7.35% | 5,140 | 7.26% | +0.18% | +0.09% |
Eicher Tractors | 4,461 | 6.37% | 4,507 | 6.36% | -1.02% | +0.01% |
CNH Industrial (India) | 2,898 | 4.14% | 2,861 | 4.04% | +1.29% | +0.10% |
Kubota Tractor | 1,157 | 1.65% | 1,643 | 2.32% | -29.58% | -0.67% |
Other Brands | 1,986 | 2.83% | 2,602 | 3.67% | -23.67% | -0.84% |
Total | 70,065 | 100% | 70,813 | 100% | -1.06% |
This table now includes the sales figures for May 2024 and May 2023, providing a comprehensive comparison between May 2024 and May 2023 for each brand.
Mahindra & Mahindra Limited: Mixed Results
Mahindra Tractor Division
In May 2024, Mahindra sold 15,926 tractors, up by 0.57% from the previous year. However, the company's market share saw a decrease of 0.37%.
Swaraj Tractor Division
A positive growth of 2.48% was observed in Swaraj Tractor sales, with 13,093 units sold. This translated into a 0.65% increase in market share.
International Tractors Limited (Sonalika Tractors)
Sonalika Tractors witnessed a pleasing increase in sales, with 9,225 units sold, marking a growth of 4.30% from May 2023. The company also expanded its market share by 0.68%.
TAFE Limited
TAFE Limited experienced a decline in market share by 0.46%, selling 8,515 units in May 2024, which is 4.67% fewer units compared to May 2023.
Escorts Limited
Escort tractor sales saw a marginal decline of 0.21% in May 2024, with 7,655 units sold. However, the company's market share increased by 0.10%.
John Deere India Pvt Ltd
John Deere sold 5,149 units in May 2024, indicating a slight growth of 0.18% from the previous year. The company also experienced a 0.09% increase in market share.
Eicher Tractors
Eicher Tractors sold 4,461 units in May 2024, marking a 1.02% decrease from May 2023. However, there was a marginal increase of 0.01% in market share.
CNH Industrial (India) Pvt Ltd
CNH Industrial (India) Pvt Ltd noted a 1.29% increase in sales, with 2,898 units sold in May 2024. The company also gained 0.10% in market share.
Kubota Tractor
Kubota Tractor sales dropped by 29.58% in May 2024 compared to the previous year, with 1,157 units sold. This led to a decline in market share by approximately 0.67%.
Other Brands: Declining Trend
Sales for other brands decreased by 23.67% in May 2024, with only 1,986 units sold compared to 2,602 units in May 2023. Consequently, the market share also decreased by -0.84% in the same month.
Also Read: Domestic Tractor Sales May 2024: 82,934 Units Sold, a 0.36% Increase
CMV360 Says
The FADA report for May 2024 reflects a mixed bag of performances in the tractor industry. While some brands experienced growth, others faced challenges in maintaining sales figures. The data underscores the importance of market dynamics and customer preferences in shaping the trajectory of tractor sales in India.
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