Tractor retails dipped 20.78 percent to 44,262 units in October 2021, down from 55,874 units retailed in October 2020. It was however a 24.79 percent increase over 35,469 units retailed in October 2019. Almost every tractor manufacturer in India posted de-growth in October 2021.
Mahindra was the leading tractor maker and the only in its segment to surpass sales above the 10,000 unit mark. Mahindra tractor retails stood at 10,379 units, down from 12,654 units retailed in October 2020. Market share dipped from 22.65 percent held in October 2020 to 23.45 percent in the past month.
Mahindra’s Swaraj Division also saw a de-growth in retails down to 6,981 units from 9,565 units retailed in October 2020. Market share dipped to 15.77 percent from 17.12 percent held in October 2020.
Tractor manufacturer TAFE Ltd (Tractors and Farm Equipment Ltd) has reported retail sales down to 5,094 in October 2021 with market share at 11.51 percent. This was against 7,142 units retailed in October 2020 when market share stood at 12.78 percent.
TAFE has recently unveiled nationwide tractor service campaign aimed at reducing the cost of maintenance. The ‘Massey Service Utsav’ will offer best in class service in over 1,500 authorized workshop via 3,000 trained mechanics across the country.
At No. 4 was International Tractors, retails dipped to 5,090 units in the past month. This was against 6,512 units retailed in October 2020. Market share also fell albeit marginally to 11.50 percent from 11.65 percent YoY.
John Deere retails also fell in the past month to 4,312 units from 4,689 units retailed in October 2020. Market share however, increased to 9.74 percent from 8.39 percent held in October 2020. Escorts also saw its retail sales dip 4,182 units in October 2021 from 5,528 units retailed in the same month last year.
Retail sales de-growth was seen across each of these three tractor makers – Eicher (2,551 units), CNH (1,772 units) and Kubota (1,099 units) while each posted a de-growth in market shares. VST Tillers and Force Motors also suffered de-growth as did Indo Farm and Captain Tractors.
There were other tractor makers in this segment that saw retail sales at 1,569 units down from 1,765 units retailed in October 2020, though market share increased from 3.16 percent held in October 2020 to 3.54 units in October 2021. Promises of a strong harvest and sowing season could bring in better sales in the months ahead.