Tractor sales declined by 28% in June, Continuous fall a matter of concern for the industry

Sales of tractors declined by 28.36 percent in June 2024. Sales of all tractor companies including Mahindra, Sonalika, TAFE have declined compared to last year. According to the Federation of Automobile Associations (FADA), 71,029 tractors were sold in June 2024. Whereas, 99,148 tractors were sold in June 2023. The continuous decline in tractor sales is a matter of concern for the tractor industry. Last year was also not good for tractor sales due to weak monsoon. However, due to the forecast of normal monsoon this year, tractor sales are expected to improve in the coming months. 

According to the data released by the Federation of Automobile Associations for June, retail sales of tractor companies have been less than last year. Sales of Mahindra & Mahindra, the largest company in the tractor industry, declined by 24.45 percent in June 2024. The company has sold a total of 16,333 tractors in June, which is less than the 21,646 tractors sold last year. However, despite the decline in sales, Mahindra's market share has increased. The company's market share in June 2024 was 22.99 percent, which was 21.83 percent last year. 

Similarly, the sales of Mahindra & Mahindra's tractor company Swaraj Division declined by 16.96 percent in June 2024. The company has sold a total of 13,283 tractors in the month of June, while 15,997 tractors were sold last year. However, the market share of Swaraj Tractor has increased. The market share in June 2024 was 18.70 percent, which was 16.13 percent last year. Sales of Sonalika Tractors (International Tractors Limited) have been low in June 2024. The company has sold a total of 9,244 tractors in the month of June, which were 12,759 units in June 2023. The company's market share stood at 13.01 percent in June 2024, as against 12.87 percent last year.

TAFE Limited's tractor sales have also declined. The company has sold a total of 8,646 tractors in June 2024 with a market share of 12.17 percent. Last year, the company sold 11,201 tractors with a share of 11.30 percent. Escorts Tractor's June 2024 sales have declined. The company has sold a total of 7,536 tractors in June 2024 with a market share of 10.61 percent. Last year, the company sold a total of 10,215 tractors with a share of 10.30 percent.

John Deere Tractor Company's sales have also been low in June. The company has sold a total of 5,520 tractors in June 2024 with a market share of 7.77 percent. Last year, the company sold 8,291 tractors with a share of 8.36 percent. Tractor sales of Eicher Tractors have declined. The company has sold a total of 4,625 tractors in June 2024 with a share of 6.51 percent. In June 2023, the company sold 4,983 tractors with a share of 5.03 percent.

CNH Industrial (India) Private Limited has sold a total of 2,863 tractors in June 2024, which was 5,572 units in June 2023. Kubota Tractor has sold less in June 2024 as compared to last year. The company has sold a total of 1,218 tractors in June 2024. Whereas, last year the company sold 1,733 tractors in the month of June. At the same time, apart from these companies, the sales of other tractor companies have also been less. The sales of other companies stood at 1,761 units in June 2024. Whereas, it was 6,751 units in June 2023.