Tractor registrations for October 2020 grew 55.53 percent YoY
FADA has revealed OEM wise tractor retails for the past month which has seen a significant growth over sales in the same month of the past year. Domestic tractor retail sales in October were at 55,146 units, as compared to 35,456 units in October 2019 – a growth of 55.53%.
The ongoing festival season, favourable monsoons, bumper Kharif harvesting and promising Rabi sowing season has all proved beneficial to the tractor industry. It may be remembered that India is the world’s largest tractor market both in terms of production and sales.
Mahindra tractor retails were at the top of this list. The company currently commands a market share of 22.61 percent with October 20 sales at 12,466 units, up 58.18 percent as against 7,881 units sold in the same month of the previous year. While the company noted a YoY growth, MoM sales dipped 20.07 percent with 15,597 units sold in Sept 20.
Mahindra Swaraj sales also increased significantly on a YoY basis by 62.39 percent to 9,461 units while in the same month of the previous year, the company had sold 5,826 units.
The third largest tractor sales came from Chennai based, TAFE Tractor and Farm Equipment. Sales in the past month had stood at 7,010 units, up from 54,573 units sold in Oct 19 while the company commanded a market share of 12.71 percent.
Sonalika Tractors was in a fourth spot with market share of 11.70 percent and October 2020 sales at 6,451 units, up 57.30 YoY growth as against 4,101 units sold in Oct 19. MoM sales dipped 26.51 percent as the company had sold 8,778 units in Sept 19.
Sonalika tractors are in the range of 20-120 hp. The tractor series Tiger is recently launched and has found widespread acceptance in markets in terms of design and performance. Sonalika also recently upgraded the Sikandar DLX series which is also high on orders while the Mahabali and Chattrapati have also been well received.
|No||Tractor Retail Sales||Oct-20||Oct-19|
Captain Tractors post positive MoM growth
Escorts, John Deere and Eicher also posted positive YoY growth as did every other tractor manufacturer in the country. However, MoM sales dipped for all Tractor OEMs with the exception of Captain. Captain Tractors noted a MoM sales surge of 56.73 percent from 104 units sold in Sept 20 to 163 units sold in Oct 20.
Captain Tractors specialize in the mini tractor segment with 15-27 hp segment. Their portfolio is priced within a range of Rs.3-5 lakhs and offers a high level of safety features to the small land holding farmer.