Thursday, Mar 30, 2023

Domestic Tractor Sales in Aug 2021 Down 17%

Domestic Tractor Sales in Aug 2021 Down 17%

‘This year’s August sales is not strictly comparable with last year corresponding due to the pent-up demand then, following nationwide lockdowns’

The number of tractors sold in the Indian market in August 2021 was 53,714, while in 2020, it was 64,730 units in the same month, according to data compiled by Tractor Junction.

Thus, domestic sales of tractors in the month decreased by 17%, it added.

Mahindra Tractors Group registered a fall with 19,997 units sold in August 2021. Last year corresponding, it sold 23,503 units. This shows that Mahindra tractor sales shrank by 14.92%.

Overall, the company gained 0.92% of the market share in August 2021.

TAFE Group’s domestic sales of tractor registered a 17.70% decrease in this August. It sold 9,745 units in August 2021, against 11,841 units last year same month. Along with this, the TAFE Group market share decreased by 0.15 last month.

John Deere gained the No. 3 tractor manufacturer position in August 2021. It also gained 1.85% market share and maintained it at 13.3%.

It registered 7,158 units sales in August 2021 against 7,428 units in Aug 2020, which reflects a 3.63% loss.

Sonalika Tractor recorded 5,810 units in August 2021, against 8,205 units in August 2020 which shows a 29.19% decline in its domestic tractor sales this month. Sonalika Tractor lost market share by 1.86%.

Escort Group’s domestic tractor sales decreased by 27.11%. The company’s domestic tractor sales were 4,920 units in August 2021 and 6,750 units in August 2020. Along with this, Escorts also lost a 1.27% market share.

However, the report noted that this year’s August sales is not strictly comparable with last year same month, due to the pent-up demand last year post COVID-19 nationwide lockdowns.

As we enter the festive season, we see farmer sentiment strong and enquiry level building up, driven by favourable macroeconomic factors, reasonably good water level of reservoirs, good pace of Kharif sowing and continued support by the Government in Agri sector, it said.

Some parts of the country have faced a deficit of rainfall in July and August, and it remains to be seen how monsoon behaves in September. Inflation continues at unprecedented levels, it added, quoting a company statement.

Meanwhile, New Holland Tractor recorded 2,044 units sales in August 2021 against 2,801 in August 2020. This shows a 27% decline in New Holland Tractor domestic sales. Along with this, New Holland also lost its market share by 0.52%.

Kubota Tractor domestic sales decreased by 17.62% to 1,150 units in August 2021 against 1,396 units in August 2020.

VST Tractor domestic sales decreased to 644 units – a decline by 25.20% compared to 861 units sold in August 2020. VST Tractor registered a 0.13 % loss in August 2021 market share.

Preet Tractor registered 20.12% growth in their domestic tractor sales with a sale of 609 tractors in August 2021 against 507 units in August 2020. Preet Tractor market share increased by 0.35% in August 2021.

In the same month, Indo Farm Tractor domestic sales went up by 62.58% in comparison to August 2020. Tractor sales in August 2021 were 504 units against 310 units sold during August 2020.The company also added 0.46% of the market share.

Force Tractor increased market share by 0.29% last month as their domestic tractor sales increased by 30.1 % in August 2021. Sales, which had stood at 329 units in August 2020, increased to 428 last month.

Captain Tractor domestic sales declined by 29.1% in August 2021 compared to August 2020. Sale of 300 units was recorded in August 2021, whereas 423 units were recorded in August 2020. The company lost market share by 0.09%.

ACE domestic tractor sales increased by 19.19% to 205 units in August 2021 against 172 units in August 2020. Its market share grew 0.12%.

SDF Tractor registered a 1.96% loss in domestic tractor sales, from 204 units in August 2020 to 200 units in August 2021. However, their markets share marginally decreased by 0.06%.