Tractor sales down by 8.82 percent in first half of FY 2024-25, companies look forward to the festive season
In the first half of FY 2024-25, domestic tractor sales dropped by 8.82% compared to last year, with 39,286 fewer tractors sold. Tractor companies are hopeful for a boost during the festive season.
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In the first six months of the financial year 2024-25, domestic tractor sales have dropped by 8.82 percent compared to the same period in FY 2023-24. From April to September 2024, 4,05,711 tractors were sold, whereas 4,44,997 tractors were sold during the same period last year. This means 39,286 fewer tractors were sold this year.
Rural Voice analysed the data of the last six months from the Federation of Automobile Dealer’s Associations (FADA), showing a steady decline in tractor sales since May 2024. In April 2024 56,627 tractors were sold, slightly higher than the 55,857 sold in April 2023. Sales dropped by about 1 percent in May, with 70,065 tractors sold compared to 70,813 in May 2023.
The decline became more severe in June 2024, with 71,029 tractors sold compared to 99,148 in June 2023 - a 28 percent drop. July 2024 also saw a 12 percent decline, with 79,970 tractors sold, down from 90,821 in July last year. In August 2024, 65,478 tractors were sold, an 11 percent decrease from 73,892 in August 2023.
|
Month |
FY 2024-25 | FY 2023-24 | %Change |
| April | 56,627 | 55,857 | |
| May | 70,065 | 70,813 | -1.05 % |
| June | 71,029 | 99,148 | -28.29 % |
| July | 79,970 | 90,821 | -11.94 % |
| August | 65,478 | 73,892 | -11.38 % |
| September | 62,542 | 54,529 | 14.69 % |
| Total | 4,05,711 | 4,44,997 | -8.82 % |
(Source: FADA Report)
However, September 2024 brought some positive news, with tractor sales increasing by 14 percent, as 62,542 units were sold compared to 54,529 in September 2023. This was the only month since May to see a rise in sales compared to last year.
The consistent drop in tractor sales is a concern for major tractor companies. Last year’s sales were already affected by a weak monsoon, and although this year was expected to improve with a normal monsoon, the anticipated boost hasn’t been seen yet. Tractor companies are now looking forward to the festive season. They are introducing special offers and financing plans, hoping to increase sales during this time.
