Tractor sales dip 11.38 percent in August, John Deere and Sonalika sees growth
Retail tractor sales fell by 11.38 percent in August, with 65,478 units sold compared to 73,892 units in the same month last year. Major brands such as Mahindra, Swaraj, and TAFE saw declines in sales, while Sonalika and John Deere saw growth
In August 2024, tractor retail sales in India fell by 11.38 percent, with a total of 65,478 tractors sold, compared to 73,892 units in August 2023. This decline has raised concerns for major tractor companies like Mahindra, Swaraj, and TAFE, which have all reported reduced sales. However, Sonalika and John Deere showed growth in this period.
According to data from the Federation of Automobile Association, Mahindra & Mahindra’s sales dropped by 9.7 percent, with 16,183 tractors sold in August 2024, compared to 17,929 units sold in the same month last year. Despite the drop in sales, Mahindra’s market share increased to 24.72 percent. The company’s Swaraj division also saw a sales decline of 8.87 percent, with 12,221 tractors sold, down from 13,413 in August 2023. However, Swaraj’s market share improved slightly to 18.66 percent.
TAFE Limited, Escorts, Eicher, CNH Industrial, and Kubota also experienced a downturn in sales. TAFE sold 7,119 tractors in August 2024, down from 9,564 units last year. Escorts sold 5,869 tractors, a decrease from the 7,433 units sold in August 2023. Eicher's sales were 4,182 units, compared to 4,962 units the previous year. Kubota Tractors also saw a drop, with 5,869 units sold in August versus 7,433 units sold last year. Additionally, other tractor companies saw reduced sales, totaling 2,324 units in August 2024 compared to 3,344 units in August 2023.
On the other hand, Sonalika Tractors experienced a slight sales increase of 0.42 percent, selling 8,495 tractors in August and holding a 12.97 percent market share. John Deere also saw a significant boost, with a 15.91 percent increase in sales, totaling 5,313 tractors compared to 4,900 units last year. CNH Industrial (India) also reported improved sales, with 2,550 tractors sold in August, up from 2,383 units the previous year.
This overall decline in tractor sales follows a similar trend from previous years, largely driven by weak monsoon seasons. However, the expectation of a normal monsoon this year could improve sales in the coming months.
