The overall outlook for agriculture industry appears positive considering higher estimates of rabi production and stronger rural cash flows
Even as two and three wheeler along with commercial vehicle sales dipped in Feb 21, that of passenger vehicles and tractors showed an upward growth. As per data released by FADA – Federation of Automobile Dealers Association, 2 wheeler sales dipped 16.08 percent while 3 wheeler and CV sales fell by 49.65 percent and 29.53 percent respectively.
Tractor sales on the other hand increased 18.89 percent in the past month. Sales stood at 61,351 units, up from 51,602 units sold in Feb 20. It may be seen from the attached table that every tractor manufacturer reported positive sales with the exception of Force Motors and Captain.
Mahindra Farm Equipment, Mahindra Swaraj, Sonalika
Once again it was Mahindra was at No.1 with tractor sales of 13,492 units, up 8.19 percent as against 12,471 units sold in the same month of the previous year. MoM sales however remained flat with 13,476 units sold in Jan 21.
Mahindra Swaraj sales increased 11.18 percent YoY with sales of 10,191 units in Feb 21, an increase as against 9,166 units sold in Feb 20. MoM sales however remained flat with 10,211 units sold in Jan 21. The company plans to launch a new range of tractors of higher and lower hp so as to support smaller farmers in puddling operations.
Swaraj also recently introduced the Swaraj 742XT tractor which has been developed exclusively for paddy mechanization and has also proved to be high in performance and low in fuel consumption where puddling operations are concerned.
Sonalika Tractor has reported sales of 8,443 units in Feb 21, up 36.60 percent from 6,181 units sold in Feb 20. MoM sales however, suffered a de-growth of 2.36 percent with 8,647 units sold in Jan 21. Executive Director Raman Mittal of Sonalika Group also revealed that the company achieved their highest ever cumulative domestic sales of 1,06,432 units in the March to February period relating to a growth of 35.5 percent as against the same period of the previous year. He stated that this was the fastest ever 1 lakh domestic tractor sales by any tractor brand in domestic markets.
Escorts, TAFE, John Deere
Escorts Agri Machinery February 2021 sales increased by 23.38 percent to 7,118 units, as against 5,769 units sold in Feb 20. MoM sales also noted growth by 2.55 percent as against 6,941 units sold in Jan 21. Escorts Agri Machinery February 2021 sales increased by 23.38 percent to 7,118 units, as against 5,769 units sold in Feb 20. MoM sales also noted growth by 2.55 percent as against 6,941 units sold in Jan 21.
Lower down the order at No. 5 was TAFE (Tractors and Farm Equipment Ltd). Sales in Feb 21 stood at 6,420 units, up 30.20 percent over 4,31 units sold in Feb 20. MoM sales increase stood at 2.55 percent with 6,230 units sold in Jan 21. TAFE also unveiled a new tractor range in February 21. The Dynatrack series is an advanced range of tractors used for agriculture, haulage and commercial applications and comes in equipped with VersaTech technology. The range gets an extendable wheelbase making it suited for year round usage.
Sales growth was also reported by John Deere and Eicher in the past month standing at 22.50 percent and 15.93 percent respectively while Kubota, VST and Indo Farms also reported sales growth. Tractor sales of Force Motors and Captain however, dipped 25.06 percent and 27.81 percent respectively.