Tractor retail sales stood at 50,304 units in February 2022 down 18.87 percent from 62,004 units sold in February 2021
As per data sourced by Federation of Automobile Dealers Association of India (FADA) for the month of February 2022, tractor retail sales have dipped on a YoY basis by 18.87 percent and also by 2.56 percent when compared to sales in February 2020. Due to several constraints in the rural sector, India’s top 5 tractor manufacturers have reported significantly lower sales.
The months ahead should see better sales considering higher rabi sowing this year, good levels of water in reservoirs and an increase in rural and agri sector in the Union Budget. Positive indications of normal monsoons could also drive up sales figures in the tractor segment.
Tractor Sales Feb 2022 – Mahindra Dominates
Mahindra headed the list with retail sales of 11,360 units down from 13,662 units sold in February 2021. Market share however, increased YoY from 22.03 percent held in February 2021 to 22.58 percent in the past month. Mahindra’s Swaraj Division sales stood at 8,417 units last month, down from 10,299 units sold in February 2021 with market share increasing YoY from 16.61 percent to 16.73 percent.
At No.3 was Sonalika Tractors (International Tractors Limited) with retail sales de-growth to 6,373 units in the past month, down from 8,486 units sold in February 2021. Sonalika launched the new Tiger DI tractors at the end of last year. It comes in with CRDs technology and is TREM-IV compliant. It offers 10 percent better fuel efficiency and is priced at Rs 11 lakh for Tiger DI 65 and at Rs 11.20 lakh for Tiger DI 75.
Retail sales of TAFE Limited stood at 5,579 units in the past month, down from 6,523 units sold in February 2021. Market share of the Chennai based tractor maker increased to 11.09 percent from 10.52 percent on a YoY basis.
Escorts, John Deere, Eicher – Feb 2022
Retail sales de-growth was also seen in the case of Escorts, John Deere and Eicher. Escorts sales dipped to 5,039 units in February 2022 from 7,157 units sold in February 2021. Market share of the company dipped to 10.02 percent from 11.54 percent held in February 2021. The company claims that steep price increases due to higher inflation in commodity prices had an adverse effect on retail sales, leading to above normal inventory levels.
John Deere also saw lower retails to 4,409 units in the past month from 5,177 units sold in February 2021, though market share increased to 8.76 percent from 8.35 percent YoY. Eicher Tractors (2,749 units) and CNH Industrial (2,080 units) also posted a YoY de-growth in retail sales while sales of Kubota increased to 1,333 units in February 2022 up from 1,115 units sold in February 2021. Market share of the company also saw a notable increase to 2.65 percent from 1.80 percent YoY.
VST Tillers tractor sales were flat at 416 unit6s while Force Motors saw its sales increase to 380 units in the past month from 336 units sold in February 2021. Indo Farm sales also grew to 316 units while Captain tractor sales dipped to 97 units last month from 142 units sold in February 2021. There were others in this segment that reported retail sales at 1,756 units down from 2,023 units sold in February 2021.
