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Domestic tractor sales in India dropped by 22.67% in March 2024, with 63,755 units sold, signaling challenges for the industry.
By Robin Kumar Attri
In a reflection of the challenges faced by the agricultural machinery sector, domestic tractor sales in India experienced a significant decline of 22.67% in March 2024. According to data compiled by industry experts, 63,755 tractors were sold during this period, compared to 82,450 units sold in March 2023. While this decline presents a notable setback, industry insiders are hopeful for a renewal in the forthcoming season.
India's leading tractor manufacturer, Mahindra Tractor, reported sales of 24,276 units in March 2024, reflecting a 27.80% decrease from the previous year's sales of 33,622 tractors. Despite this decline, Mahindra remains a dominant player in the market, although experiencing a 2.70% loss in market share.
Also Read: Mahindra Tractor Sales Report March 2024: Domestic Market Sales Drop by 28%, Exports Up by 26%
TAFE, another prominent brand, witnessed a 20.45% decrease in sales, with 10,878 units sold in March 2024 compared to 13,674 units in March 2023. TAFE's market share stands at 0.48%, indicating a slight dip.
Sonalika International recorded sales of 8,682 tractors in March 2024 compared to 10616 units in March 2023, marking an 18.22% decrease from the previous year. However, the brand's market share saw a marginal increase of 0.74%.
Escorts, a key player in the industry, reported sales of 8,054 tractors in March 2024 compared to the 9,601 units in March 2023, experiencing a 16.11% decline from the previous year. Nevertheless, the company managed to increase its market share by 0.99%.
Also Read: Escorts Kubota Tractor Sales Drop by 16.7% in March 2024
John Deere's sales stood at 5,523 tractors in March 2024 compared to the 5931 units in March 2023, representing a 6.88% decrease from the previous year. Despite this, the brand witnessed a 1.47% increase in market share.
New Holland reported a 17.40% decrease in sales, with 3,062 units sold in March 2024 compared to 3,707 units in March 2023. However, the brand's market share experienced a slight growth of 0.31%.
Kubota faced a significant decline of 48.90% in sales, with only 1,301 units sold in March 2024 compared to 2,546 units in March 2023. The company's market share also decreased by 1.05%.
Captain Tractor faced a significant decline of 3.79% in sales, with only 482 units sold in March 2024 compared to Tractors sold in March 2023. The company's market share also decreased by 0.15%.
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