Tractor retails hit a rough patch in December 2021 with all three leading tractor makers posting a YoY de-growth
Several concerns across the rural sector has led to a 10.32 percent de-growth being announced by Tractor OEMs in the case of retail sales. Sales which had stood at 69,415 units in December 2020 dipped to 62,250 units in the past month. It was however, a significant increase of 22 percent over 51,024 units sold in December 2019.
The top 5 leading tractor makers in India have also posted YoY de-growth due to a combination of factors. The segment faced inequitable rainfall over the past year while the future is viewed with some optimism thanks to good progress of Kharif crops and Rabi also showing signs of growth.
Tractors Sales Dec 2021 – Mahindra Leads
Mahindra Tractors continues to be market leader and was at No.1 on the list of best-selling OEMs in terms of retail sales. Sales however, dipped to 14,923 units in the past month, down from 16,474 units sold in December 2020, though market share increased from 23.73 percent to 23.97 percent YoY.
Mahindra Swaraj Division followed at No. 2 with retails at 10,475 units, down from 11,735 units sold in December 2020. Market share dipped marginally from 16.91 percent held in December 2020 to 16.83 percent in the past month. The company plans to introduce 15 new farm mechanization products along with a target to expand its farm mechanization dealer network three times by 2025. The company is also in the process of setting up a new farm machinery manufacturing facility in Pithampur, Madhya Pradesh by 2023.
Sonalika Tractors (International Tractors Limited) also posted a YoY de-growth in retail sales. Sales which had stood at 9,409 units in December 2020 dipped to 7,690 units in the past month.
At the end of last year, the company launched its most advanced Tiger DI 75 4WD tractor with superior CRDs (Common Rail Diesel System) technology. It has been brought in at an introductory price in the range of Rs. 11-11.20 lakh. The company has also introduced the Tiger DI 65 4WD tractor customized to deliver 65 hp power and economy of 55 hp tractor. Both these new offerings come in with ‘Sky Smart’ telematics.
TAFE, Escorts, John Deere
Lower down the order on the list of best-selling tractor OEMs was TAFE, Escorts and John Deere. Even as all three saw de-growth in terms of retail sales. John Deere entered the CES Technology Expo with an autonomous tractor that can till a field without a driver. Launch in India has not yet been confirmed.
Eicher Tractor retails also dipped significantly last month to 3,994 units, down from 4,425 units sold in December 2020. CNH Industrial also saw its retails dip to 2,235 units last month from 2.603 units retailed in December 2020.
Increased retail sales were reported by Kubota (1,355 units), VST Tillers (481 units), Force Motors (425 units) and Indo Farm (346 units) while retails of Captain Tractors dipped to 181 units in the past month from 28 units sold in December 2020. There were other OEMs in this segment that also posted reduced YoY retails to 1,734 units from 1,986 units sold in December 2020.