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Mahindra & Mahindra leads tractor sales in June 2024; overall market sees a significant drop in total units sold.
The tractor market in June 2024 showed various shifts in the market shares of different manufacturers compared to June 2023. Here's a breakdown of the market performance:
Manufacturer | Sales (June 2024) | Market Share (June 2024) | Sales (June 2023) | Market Share (June 2023) |
Mahindra & Mahindra Limited (Tractor Division) | 16,333 | 22.99% | 21,646 | 21.83% |
Mahindra & Mahindra Limited (Swaraj Division) | 13,283 | 18.70% | 15,997 | 16.13% |
International Tractors Limited | 9,244 | 13.01% | 12,759 | 12.87% |
TAFE Limited | 8,646 | 12.17% | 11,201 | 11.30% |
Escorts Kubota Limited (Agri Machinery Group) | 7,536 | 10.61% | 10,215 | 10.30% |
John Deere India Pvt Ltd (Tractor Division) | 5,520 | 7.77% | 8,291 | 8.36% |
Eicher Tractors | 4,625 | 6.51% | 4,983 | 5.03% |
CNH Industrial (India) Pvt Ltd | 2,863 | 4.03% | 5,572 | 5.62% |
Kubota Agricultural Machinery India Pvt Ltd | 1,218 | 1.71% | 1,733 | 1.75% |
Others | 1,761 | 2.48% | 6,751 | 6.81% |
Total | 71,029 | 100% | 99,148 | 100% |
Source: FADA Research
Mahindra & Mahindra Limited (Tractor Division) maintained its top position with a market share of 22.99%, selling 16,333 units. This is a slight increase from 21.83% and 21,646 units sold in June 2023.
Mahindra & Mahindra Limited (Swaraj Division) followed with an 18.70% market share, selling 13,283 units, up from 16.13% and 15,997 units sold in June 2023.
International Tractors Limited secured a 13.01% market share with 9,244 units sold, a slight increase from 12.87% and 12,759 units in June 2023.
TAFE Limited had a market share of 12.17%, with 8,646 units sold, up from 11.30% and 11,201 units in June 2023.
Escorts Kubota Limited (Agri Machinery Group) achieved a 10.61% market share, selling 7,536 units, an increase from 10.30% and 10,215 units in June 2023.
John Deere India Pvt Ltd (Tractor Division) had a 7.77% market share with 5,520 units sold, down from 8.36% and 8,291 units in June 2023.
Eicher Tractors sold 4,625 units, securing a 6.51% market share, up from 5.03% and 4,983 units in June 2023.
CNH Industrial (India) Pvt Ltd had a 4.03% market share with 2,863 units sold, down from 5.62% and 5,572 units in June 2023.
Kubota Agricultural Machinery India Pvt Ltd held a 1.71% market share with 1,218 units sold, a slight decrease from 1.75% and 1,733 units in June 2023.
Other Manufacturers collectively sold 1,761 units, accounting for 2.48% of the market, a decrease from 6.81% and 6,751 units in June 2023.
The total units sold in June 2024 were 71,029, a significant decrease from 99,148 units in June 2023. This change reflects various market dynamics and shifts in consumer preferences and industry performance.
Also Read: Domestic Tractor Sales Rise by 3.86% in June 2024, Reaching 101,981 Units
In June 2024, Mahindra & Mahindra maintained its lead in the tractor market, while other manufacturers like TAFE Limited and International Tractors Limited also showed growth. However, overall sales dropped significantly from the previous year. The market saw shifts in consumer preferences, with some brands gaining market share despite the overall decline in units sold.
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