Domestic Tractor Sales Report February 2024: Sales Drop By 16.59%, 51774 Units Sold

In February 2024, domestic tractor sales in India saw a decline, with a 16.59%. The brands sold 51774 tractors in February 2024, in comparison to the 62075 tractors sold during February 2023. However, industry insiders are looking forward to a significant uptick in the coming season.

Domestic Tractor Sales Report February 2024 - Brand Wise

India's top tractor manufacturer, Mahindra Tractor, achieved a sales figure in February 2024 by selling 20121 tractors. This reflected a drop of 18.27% when compared to February 2023, sold 24619 tractors. Additionally, Mahindra experienced a 0.80% loss in its market share during this period. 

Commenting on the performance, Hemant Sikka, President –  “We have sold 20121 tractors in the domestic market during February 2024. Southern and western states continue to face agri stress due to erratic and deficient monsoon. However, Rabi crop outlook is very good, with wheat crop likely to be a bumper crop. Harvesting has started in a few states with the government supporting early procurement of wheat crops. Continued government support through various rural schemes and enhanced institutional credit will further help boost tractor demand going forward. In the export market, we have sold 1551 tractors, a growth of 32% over last year.”

TAFE domestic tractor sales in February 2024 reached 8455 units, reflecting a 24.73% decrease from the previous year when they sold 11233 tractors in February 2023. Additionally, TAFE's market share saw a drop of 1.77%.

Sonalika International sold 6911 tractors in February 2024, a slight drop from the 6994 tractors sold in February 2023, showcasing a 1.19% decrease in sales. Besides this, the data highlights a 2.08% increase in the brand's market share.

In February 2024, Escorts sold 6041 tractors in February 2024, a 16.62% decrease compared to the tractor sales in February 2023, which was 7245 tractors. On the other hand, the company maintained its market share by no profit and no loss.

In February 2024, John Deere sold 5037 tractors in February 2024, marking a 12.57% decline compared to the previous year, which is 5761 units of tractors. Furthermore, the brand's market share saw an upward trend by 0.45%.

In February 2024, New Holland sold 2559 tractors, a 0.12% raise compared to the previous year, which was 2556 units of tractors. On the other hand, the brand's market share saw a positive growth of 0.83%. 

February 2024 saw Kubota tractor sales at 1228 units, showing a substantial decline of 29.95% compared to February 2023 which was 1753 units of tractors. Concurrently, the company's market share also declined by 0.45%.

Preet domestic tractor sales saw a significant decrease of 27.96%, with 389 tractors sold in February 2024. The Preet domestic tractor sales were 540 units in February 2023. The report also highlights a minor downward trend by 0.12% in market share.

In February 2024, Indo Farm tractors experienced a 24.79% decrease in domestic tractor sales, with 355 tractors sold as against 472 units of tractors sold in February 2023. The company lost its market share by 0.07% in this month. 

VST domestic sales report for February 2024 presents 237 tractors sold, resulting in a 28.40% decrease in sales as against 331 tractors sold in February 2023. The brand’s market share also fell by 0.08%. 

Captain Tractor sold 220 tractors in February 2024, marking a significant 24.14% increase in sales compared to February 2023 which was 290 tractors. Additionally, the brand experienced a modest 0.04% drop in market share.

ACE tractor domestic sales reported a 24.00% decline as this brand sold only 171 tractors in February 2024 compared to February 2023 which was 225 tractors. Moreover, the market share of ACE tractors was lost by 0.03%. 

SDF tractor domestic sales in February 2024 observed a 10.71% decline as it sold 50 units in February 2024 against February 2023 which was 56 tractors. As a result, the market share increased by 0.01%.

The overall domestic tractor sales report of February 2024 depicts 51774 tractors sold compared to 62075 tractors sold in February 2023. This led to a decrease by 16.59% in domestic tractor sales in February 2024. For more updates related to tractor sales reports, stay tuned with Tractor Junction. 

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