Domestic Tractors Sales Report Oct 2024: Sales Increased By 22.37%, 1,44,675 Units Sold

The latest report on domestic tractor sales for October 2024 shows a 22.37% increase compared to Oct 2023. In October 2024, the top companies sold 14,4675 tractors, while the same time last year saw sales of 11,8232 tractors.

Domestic Tractor Sales Report Oct 2024 - Brand Wise

In October 2024, M&M Group (Mahindra Tractor) sold 64,326 tractors, compared to 49,336 tractors in October 2023. This means their sales grew by 30.38%. M&M Group's market share for October 2024 was 44.46%, which is a bit higher than the 41.73% they had in the same month last year. So, their market share increased by 2.73%.

Tafe Group, one of the leading tractor manufacturers, saw a slight increase in sales but a decline in market share in October 2024. They sold 25,014 tractors, compared to 21,581 in October 2023, marking a 15.91% increase in sales. Their market share for October 2024 was 17.29%, down from 18.25% the previous year, a decrease of 0.96%. Despite this, TAFE continues to be a major player in the tractor industry.

Meanwhile, in October 2024, Sonalika recorded sales of 18,002 units, growing by 14.94%. However, their market share declined from 13.25% to 12.44%, with a drop of 0.80%. Despite sales growth, the brand's share in the overall tractor market decreased slightly in October 2024.

Escorts Kubota, an excellent top tractor manufacturing firm, achieved a sales growth of 22.60%, selling 17,839 units. Their market share remained steady, moving from 12.31% to 12.33%. This indicates stable performance, with only a minor increase of 0.02% in market share.

On the other hand, another market leader, John Deere, sold 11,483 tractors, a growth of 7.50%. However, their market share dropped from 9.03% in October ’23 to 7.94% on October 24, a decline of 1.10%. While sales increased, their share of the market saw a noticeable reduction.

New Holland achieved sales of 5,744 units in Oct '24, up from 4,568 in Oct '23, marking a growth of 25.74%. Their market share rose slightly from 3.86% in Oct '23 to 3.97% in Oct '24, with a YoY increase of 0.11%.

The Punjab-based tractor company Preet sold 546 units in October '24, compared to 518 in October '23, growing by 5.41%. Their market share slightly decreased from 0.44% in October '23 to 0.38% in October '24, with a YoY decline of 0.06%.

VST saw tremendous growth, selling 502 units in October '24, up from 235 in October '23, a growth of 113.62%. Their market share increased from 0.20% in October '23 to 0.35% in October '24, a rise of 0.15%.

Furthermore, Indo Farm tractors sold 485 units in October '24, up from 453 in October '23, marking a 7.06% growth. However, their market share fell from 0.38% in October '23 to 0.34% in October '24, showing a 0.05% decline.

ACE had a strong performance in October 2024. They sold 370 tractors in October 2024, up from 261 in October 2023, reflecting a growth of 41.76%. Their market share increased from 0.22% in October 2023 to 0.26% in October 2024, with a small rise of 0.03%.

Captain also experienced a significant decline in performance in  October 2024. They sold 267 units in Oct '24, down from 301 in Oct '23, a drop of 11.30%. Their market also share fell from 0.25% in Oct '23 to 0.18% in Oct '24, with a YoY decline of 0.07%.

Lastly, SDF sold 97 units in October '24, up from 85 in October '23, a growth of 14.12%. Their market share remained stable at 0.07% in both October '23 and October '24, with no significant market change.

In October 2024, the domestic tractor industry saw total sales of 144,675 units, a growth of 22.37% compared to October 2023. M&M Group led the market with the highest sales and growth. Most brands grew, but some, like John Deere and Captain, lost market share. Overall, the industry showed strong performance and steady growth.

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