In India, while the use of tractors is considered crucial, there has been a noticeable decline in tractor sales among various construction companies during July. This decline has raised concerns within the tractor manufacturing industry. However, there is also optimism that sales figures may improve in the coming days.
Figures from the Federation of Automobile Associations
In July 2024, there was an 11.94% decrease in sales. A total of 79,970 tractors were sold in July 2024, compared to 90,821 tractors sold in July 2023. Almost all major companies, including Mahindra & Mahindra, TAFE, Escorts, and Eicher tractors, experienced a drop in sales. However, Sonalika and John Deere tractors saw an increase in sales. Here are some statistics from various companies:
- Mahindra & Mahindra Tractors
In July 2024, Mahindra sold 18,422 tractors, down from 20,914 tractors sold in the same month last year. This represents an 11.92% decrease. Mahindra & Mahindra’s market share in July 2024 was 23.04%, slightly up from 23.03% in July 2023. - Swaraj Tractors
Mahindra & Mahindra’s division, Swaraj Tractors, saw a 0.72% decrease in sales, with 16,265 tractors sold in July 2024, compared to 16,383 tractors sold in July 2023. However, Swaraj Tractors’ market share increased by 2.30%. - Escorts Tractors
Escorts Tractors sold 8,274 tractors in July 2024, down from 8,534 tractors sold in July 2023, reflecting a 3.05% decrease. - Eicher Tractors
Eicher Tractors sold 5,420 tractors in July 2024, a 20.25% decrease from 6,796 tractors sold in July 2023. This resulted in a 0.70% reduction in market share.
Indian Agriculture and Tractors
India is an agricultural country where traditional farming has always been prevalent. However, over time, modern machinery and resources have been integrated into agriculture, including tractors. Since their introduction as steam engines on wheels in the 19th century, tractors have come a long way.
Today, tractors are used for plowing, soil cultivation, and planting in agriculture. Modern tractors are also employed for various tasks such as clearing bushes, land reclamation, fertilizer application, and lawn maintenance. With advancements in precision agriculture technologies and digital tools, the capabilities of modern tractors have become even more extensive. Whether working in a garden or a field, tractors make tasks easier and more efficient.
Tractor OEM Sales Data (July 2024 vs. July 2023)
| Tractor OEM | July 2024 | Market Share (%) July 2024 | July 2023 | Market Share (%) July 2023 | Year-over-Year % Change |
|---|---|---|---|---|---|
| Mahindra & Mahindra Limited (Tractors) | 18,422 | 23.04% | 20,914 | 23.03% | -11.92% |
| Mahindra & Mahindra Limited (Swaraj Division) | 16,265 | 20.34% | 16,383 | 18.04% | -0.72% |
| International Tractors Limited | 11,141 | 13.93% | 11,063 | 12.18% | 0.71% |
| Escorts Kubota Limited (Agricultural Machinery) | 8,274 | 10.35% | 8,534 | 9.40% | -3.05% |
| TAFE Limited | 7,884 | 9.86% | 12,420 | 13.68% | -36.52% |
| John Deere India Private Limited (Tractor Division) | 6,251 | 7.82% | 5,529 | 6.09% | 13.06% |
| Eicher Tractors | 5,420 | 6.78% | 6,796 | 7.48% | -20.25% |
| CNH Industrial (India) Private Limited | 3,018 | 3.77% | 3,191 | 3.51% | -5.42% |
| Kubota Agricultural Machinery India Private Limited | 1,461 | 1.83% | 1,876 | 2.07% | -22.12% |
| Others | 1,834 | 2.29% | 4,115 | 4.53% | -55.43% |
| Total | 79,970 | 100% | 90,821 | 100% | -11.95% |
