Tractor OEMs have indicated a 10.32 percent reduction in retail sales due to a number of problems in the rural sector. Sales fell from 69,415 units in December 2020 to 62,250 units in the previous month. However, it was a notable 22 percent rise over the 51,024 units sold in December 2019.
Due to a variety of circumstances, India's top 5 tractor manufacturers have also seen YoY declines. The segment has been hit by inequitable rainfall in the last year, but the future is looking up thanks to solid Kharif crop progress and Rabi showing indications of growth.
Mahindra Leads The Chart
Mahindra Tractors remains the market leader, with retail sales ranking No. 1 among the best-selling OEMs. However, sales fell to 14,923 units in the last month, down from 16,474 units sold in December 2020, despite an increase in market share from 23.73 percent to 23.97 percent year over year.
Mahindra Swaraj Division came in second with 10,475 retail units sold, down from 11,735 units sold in December 2020. In the previous month, market share fell slightly from 16.91 percent in December 2020 to 16.83 percent. The firm intends to launch 15 new Agri mechanization products by 2025, with a goal of tripling its farm mechanization dealer network. In addition, by 2023, the company plans to open a new agricultural machinery manufacturing facility in Pithampur, Madhya Pradesh.
Sonalika Tractors (International Tractors Limited) likewise saw a drop in retail sales year over year. Sales dropped from 9,409 units in December 2020 to 7,690 units in the previous month.
The company debuted its most sophisticated Tiger DI 75 4WD tractor with enhanced CRDs (Common Rail Diesel System) technology at the end of last year. It was launched at an initial price of between Rs. 11 and Rs. 11.20 lakh. The Tiger DI 65 4WD tractor was also created by the firm, which is tailored to give 65 horsepower while maintaining the efficiency of a 55 horsepower tractor. Both of these new products have telematics from 'Sky Smart.'
TAFE, Escorts, John Deere Numbers
TAFE, Escorts, and John Deere came in last on the list of best-selling tractor OEMs. Despite the fact that all three reported a decline in retail sales. John Deere debuted an autonomous tractor at the CES Technology Expo that can till a field without the need for a driver. The date of the launch in India is yet to be determined.
Eicher Tractor retail sales fell to 3,994 units this month, down from 4,425 units sold in December 2020. CNH Industrial's retail sales also fell to 2,235 units this month, down from 2.603 units in December 2020.
Kubota (1,355 units), VST Tillers (481 units), Force Motors (425 units), and Indo Farm (346 units) all reported higher retail sales in the last month, but Captain Tractors' retail sales fell to 181 units from 28 units in December 2020. Other OEMs in this area likewise reported lower retail sales year over year, with 1,734 units sold in December 2020 compared to 1,986 units in December 2020.
