Tractor sales noted a 35.49 percent increase in the past month with market leaders being Mahindra and Swaraj
The tractor sector grew exponentially both in terms of YoY and MoM sales. These increased sales could be attributed to a better monsoon, easy finance schemes and increased MSP and also indicated that the pandemic situation in the country did not have any major impact on the agricultural sector.
Sales increased by 35.49 percent in Dec 20 to 69,105 units, up 18,101 units over sales of 51,004 units sold in Dec 19. Total MoM sales also noted a 40.14 percent increase from 49,313 units sold in Nov 20. Mahindra, Swaraj and Sonalika were in top 3 spots, commanding a major percentage of total sales.
Top 3 Tractor Manufacturers
Mahindra sales in Dec 20 stood at 16,385 units, up 29.42 percent over sales of 12,660 units in Dec 19. The company currently commands a 33.23 percent market share. MoM sales have also seen significant growth up 36.93 percent over 11,966 units sold in Nov 20.
At the end of last year, Mahindra also announced fresh investment of Rs.100 crores into its Telangana plant from where its new K2 series of tractors will be produced. The company has also seen strong demand for its Yuvo and Jivo tractors with the new Plus Series to be added to production lines.
Mahindra Swaraj sales have also increased substantially in the past month, up 41.02 percent to 11,668 units, up from 8,274 units sold in Dec 19. MoM growth surged 37.11 percent with 8,510 units sold in Nov 20. The company’s ‘Josh Ka Raaz Mera Swaraj’ successfully highlighted the sentiments of the company to boost sales and appeal to customers despite the country going through tough times. Together with Swaraj, Mahindra has an almost 57% market share in tractor segment.
Sonalika Tractors recorded its highest ever December sales. Sales in the past month stood at 9,380 units, up 63.33 percent over 5,743 units sold in Dec 19. The company currently commands a 19.02 percent market share. MoM sales also increased by 63.22 percent with 5,747 units sold in Nov20.
In the past year, Sonalika introduced 5 new tractors -Tiger, Sikander DLX, Mahabali and Chhatrapati along with the new Tiger Electric. The tractors boast of advanced technologies and can be customized as per buyer’s crop and region.
TAFE also noted a 40.07 percent increase in sales in the past month. Sales increased 40.07 percent to 8,022 units YoY and by 43.02 percent MoM. TAFE Tractors commanded a 16.27 percent market share in Dec 20, up from a 10.17 percent share in Nov 20.
Escorts Limited, another major tractor manufacturer in India announced a 17.89 percent increase in December sales. Sales in the past month stood at 7,162 units, up from 6,075 units sold in Dec 19. MoM sales also increased substantially by 50.6 percent as against 4,753 units sold in Nov 20.
|No||Tractor Retail Sales||Dec-20||Dec-19|
|2||Mahindra Swaraj (+41%)||11,668||8,274|
|6||JOHN DEERE (+52%)||5,271||3,461|
|8||CNH INDUSTRIAL (+37%)||2,593||1,895|
|11||FORCE MOTORS (+22%)||296||243|
|13||INDO FARM (-6%)||159||169|
John Deere, Eicher, Force Motors
Lower down the order were tractor manufacturers John Deere, Eicher, CNH Industrial and Kubota all of which posted both YoY and MoM sales increase. Force Motor tractor sales also surged 21.81 percent in the past month to 296 units, up from 243 units sold in Dec 19 while MoM sales increased 14.29 percent with 259 units sold in Nov 20. Captain Tractors, Indo Farm and others also added some figures to total tractor sales in the past month though Indo Farm suffered YoY de-growth.