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VST's May 2024 sales report shows increased tractor sales but a significant decline in power tiller sales compared to 2023.
The sales report for May 2024 by VST Tillers & Tractors reveals interesting insights into their domestic sales performance. While tractor sales witnessed a healthy rise, power tiller sales experienced a significant decline compared to the previous year.
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In May 2024, VST sold 496 tractors domestically, marking a notable increase from the 437 units sold in May 2023. This represents a growth rate of 13.50%.
Contrastingly, the company witnessed a substantial drop in power tiller sales. In May 2024, VST sold 1978 power tillers, compared to 3319 units in May 2023, reflecting a significant decline of 40.40%.
The total VST Tillers & Tractor Sales for May 2024 amounted to 2474 units, down from 3756 units in May 2023. This signifies a clear decrease of 32.49% in overall sales volume.
Particulars | May 2024 | May 2023 | % Change |
Power Tiller | 1978 | 3319 | -40.40% |
Tractors | 496 | 437 | +13.50% |
Total Power Tiller & Tractor Sales (in Nos) | 2474 | 3756 | -32.49% |
Examining the year-to-date performance, VST faced challenges in both power tiller and tractor sales. Year to date in May 2024, the company recorded a loss of 42.04% in power tiller sales, with only 2961 units sold compared to 5109 units in May 2023. Similarly, tractor sales witnessed a decline of 17.07%, with 704 units sold compared to 849 units in May 2023.
Particulars | May 2024 | May 2023 | % Change |
Power Tiller | 2961 | 5109 | -42.04% |
Tractors | 704 | 849 | -17.07% |
Total Power Tiller & Tractor Sales (in Nos) | 3665 | 5958 | -38.48% |
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Despite the rise in tractor sales, VST Tillers & Tractors faced a considerable setback in power tiller sales, resulting in an overall decline in sales volume. The company aims to strategize and adapt to market dynamics to enhance its performance in the coming months.