The Federation of Automobile Dealers Associations (FADA) recently released the latest Retail Tractor Sales Data, shedding light on the performance of the tractor industry in India for the month of April 2024. According to the data, the sector experienced a slight uptick, reflecting promising growth compared to the previous year.
In April 2024, the total number of tractor sales across various brands amounted to 56,625 units, marking an increase from the 55,857 units sold in April 2023. This represents a 1.37% rise in sales, indicating a positive trend in the market.
April 2024 saw some interesting shifts in tractor sales across various companies. Let's break it down:
Among the prominent players in the industry, Mahindra, a leading name in the agricultural machinery segment, reported notable growth in sales. The company sold 12,651 tractors in April 2024, surpassing the figures from the same period last year, which stood at 12,633 units.
Swaraj Tractor, a division of Mahindra & Mahindra, also demonstrated strong performance during the month. With a 15.38% surge in tractor sales compared to April 2023, the company sold 11,028 units, up from 9,558 units the previous year. Furthermore, Swaraj Tractor managed to enhance its market share by 2.37%, underscoring its expanding presence in the market.
International Tractors Limited, another key player, experienced a commendable increase in sales, recording 7,420 units sold in April 2024 compared to 6,963 units in April 2023. This figure represents a 6.56% growth compared to April 2023, accompanied by a 0.63% rise in market share.
Escorts Tractor witnessed a fluctuation in sales, moving from 6,247 units in April 2023 to 5,866 units in April 2024, marking a 6.10% change. TAFE Limited experienced a slight fluctuation in market share, with 6,749 units sold in April 2023 compared to 5,622 units in April 2024, representing a 2.15% change.
John Deere Tractor saw a boost in sales, jumping from 4,554 units in April 2023 to 4,772 units in April 2024, marking a 4.79% increase. Their market share also increased by 0.28%.
Eicher Tractor showed significant growth, with sales increasing from 3,217 units in April 2023 to 3,881 units in April 2024, indicating a 20.64% increase. They also expanded their market share by 1.09%.
New Holland Tractor experienced growth as well, moving from 2,266 units in April 2023 to 2,414 units in April 2024, marking a 6.53% increase. Their market share also saw a slight uptick of 0.20%.
Kubota Tractor, however, faced a change in sales, from 1,318 units in April 2023 to 1,077 units in April 2024, marking an 18.29% change. Nonetheless, their market share grew by approximately 0.46%.
VST Tillers & Tractor also observed fluctuation in sales, moving from 309 units in April 2023 to 163 units in April 2024. Their retail market share also experienced a change of 0.26%.
The data released by FADA paints a clear picture of the tractor industry in India, showcasing a blend of growth and challenges faced by various players in the market. Despite certain fluctuations, the overall trajectory suggests resilience and potential for further expansion in the coming months.
