March 2021 proved to be a great year for the Tractor segment in India with retails increasing both YoY and MoM
Despite the ongoing pandemic, the Tractor segment received good traction in March 2021 with the tractor segment being the least affected by the current situation in the country which is in the midst of a second wave. Sales in this segment was boosted by healthy climatic conditions, favorable government regulations, increased liquidity and speculations of timely monsoons have spurred up demand.
Total tractor retail sales in March 2021 stood at 69,082 units, up 29.21 percent over 53,463 units sold in March 2020. MoM retails also increased 12.60 percent as against 61,351 units sold in Feb 21.
Mahindra Tractor Retails
Every tractor maker in the country reported growth in the past month and Mahindra and Swaraj once again retained their position as market leaders. Mahindra topped the list with 24.35 percent growth to 14,959 units retailed in March 21, up from 12,030 units sold in March 20. MoM sales also saw a 10.87 percent growth as compared to 13,492 units sold in Feb 21.
At No. 2 was Mahindra Swaraj with retail sales of 11,614 units in the past month, up 20.04 percent over 9,675 units retailed in March 20. MoM sales also increased 13.96 percent as against 10,191 units sold in Feb 21.
International Tractors Limited (Sonalika), one of the largest tractor makers in the country, has reported a 38.96 percent YoY retail sales increase to 8,681 units, up from 6,247 units sold in March 20. MoM sales saw a marginal increase of 2.82 percent over 8,443 units sold in Feb 21.
Sonalika recently introduced the Solis Hybrid 5015 tractor which comes in with Japanese hybrid technology and is priced at Rs. 7.21 lakhs. Solis Hybrid 5015 will strengthen the company command in the 4W drive tractor segment and promises better performance with higher speeds and enhanced fuel efficiency.
Escorts, TAFE, John Deere
Lower down the order, at No. 4 was Escorts Agri Machinery with 2853 percent retail sales increase in March 21 at 8,416 units, up from 6,548 units sold in March 20. The company is optimistic of continued high sales thanks to better Rabi output, favorable crop pricing and positive forecasts for 2021 monsoons.
Chennai based, TAFE – Tractor and Farm Equipment also noted increased sales in March 21, up 46.88 percent to 7,068 units, a marked increase over 4,812 units sold in March 20. MoM sales also surged 10.09 percent with Feb 21 sales at 6,420 units.
John Deere and Eicher also posted growth in terms of retail tractor sales up 28.05 percent and 28.38 percent respectively while it was Kubota, Indo Farm and Captain that noted retail sales increase over the 50 percent mark.
The only tractor maker to report de-growth in terms of MoM sales was Captain. Even though YoY sales surged 50 percent to 96 units, up from 64 units sold in March 20, MoM sales dipped 28.89 percent as against 135 units sold in Feb 21.