If we talk about the sales of the domestic tractor in India in the financial year 2019-20, it has significantly fallen down. However, the agriculture sector is constantly rising and tractors are a major part of the growth. Many tractor companies have managed to get a decent sale in the year and are becoming the top choice of the customers.
Recently, a report has been released regarding the sales of domestic tractor manufacturing companies in the Financial Year 2019-20. The Tractor Domestic sales report gives us an outlook on the data that shows us the domestic sales of other companies along with many big tractor companies. The report includes data of the legendary brands such as Sonalika Tractors, Mahindra tractors, Escorts tractors, TAFE Group, and New Holland Tractors. Here are the list of the companies with their sales report.
TAFE (Tractors and Farm Equipment Limited)
TAFE, the second-largest tractor companies in India has also registered a decline in FY20 as compared to the previous year. While talking about the domestic sale, the company recorded a sale of 144693 units of the tractor in FY19, and in the FY20, it remained only 120151 units.
Escorts Tractor
Escorts tractors have also seen a major decline in the domestic tractor sales. The company has registered a decline of 11.64%. The company sold 93087 units of tractors in the last financial year FY 2019. However, only 82252 tractor units were sold in FY 2020.
Mahindra Tractor
Mahindra Tractors, one of the largest tractor manufacturing companies in India and a subsidiary of the Mahindra & Mahindra Group, saw a decline in sales in the financial year 2019-20. In comparison to its last year’s sales which was of 3,167,742 units, it has come down at 291,901 units.
Sonalika Tractors
One of the largest selling tractor brands, Sonalika Tractors had 82959 units of domestic sales in the financial year 2020. The company had earlier registered sales of 95976 units of tractors in the year FY 2019. Therefore, the company faced a decline of about 13.56% in its tractor sales.
John Deere
John Deere has maintained the highest market share of 3.5% from the past five years. John Deere has witnessed an increase in the domestic tractor sales by 0.28% in the financial year 2020. With this, the company has achieved huge success with a market share of 9.64%. There has been a growth of 1% over the previous year.
Kubota Tractors
Kubota Tractors has recorded the highest growth in the financial year 2019-2020, beating all companies this time. The company had sold 12924 tractor units in FY20 while in the Financial Year 2018-19, it sold only 10876 units. Along with this, the company has done quite well in the domestic stock market and has gained 1.82% share.
Case New Holland
In the fiscal year 2020, the domestic sales of New Holland Tractors have also declined. With a sale of only 26747 units, New Holland witnessed a drop in the sales by 14.43%. The company had managed to sell in 31256 units in FY 2019.
VST Power
While the domestic tractor sales of VST Shakti were 7570 units in the financial year 2018-2019, it is reduced to 6703 units in the financial year 2019-2020.
Indo Farm Tractor
Indo Farm Tractor sold 3158 units in the financial year 2018-2019. The sales have further reduced to 2875 units with a decline of about 8.96%.
Captain Tractors
Captain Tractors performed quite well in the FY20, achieving a 5.57% increase in tractor sales. The company holds a 0.44% stake in the stock market.
