Total tractor sales in Sept 2020 surged 80.39 percent to 68,564 units, up from 38,008 units sold in Sept 19
Tractor sales have seen a surge in recent months. There has been a marked YoY increase in the past month from 38,008 units sold in Sept 19 to 68,564 units sold in the past month. There are many reasons for this.
MGNREGA, favorable Farmer’s Bills and inflationary pressures along with an increase in floor wage rate has boosted farmer sentiments and has spurred up investment in tractors. This is also coupled with a bumper rabi crop, an increase in the kharif crop sown area and favourable monsoons leaving farmers with added cash in hand for investments.
As per data released by Tractor and Mechanization Association, while the sales this year started on a regular note, the months of March and April saw tractor sales dip as much as 50 percent and 80 percent respectively. Tractor sales once again started climbing in May and June with growth at 22.4 percent and 39 percent respectively while the past three months have seen a steady rise.
Statewise Tractor Sales – UP at the top
When assessing statewise tractor sales it may be seen from the attached table that Uttar Pradesh has topped the list with 14,017 units sold in the past month, a 58.56 percent increase as against 8,840 units sold in Sept 19. This state currently commands a share of 20.44 percent.
Maharashtra was at No. 2 in terms of tractor sales last month. Total tractor sales in the state stood at 11,655 units, a 219.40 percent growth over 3,649 units sold in Sept 19. In a third spot was Rajasthan with 8,421 tractors sold in the past month, a 130.78 percent increase as compared to 3,649 units sold in Sept 19.
The North Indian states of Bihar and Haryana along with Chhattisgarh, Jharkhand and Odisha also noted significant increase in tractor sales. Sales in Gujarat and Karnataka also escalated while sales in Tamil Nadu increased 102.99 percent to 3,731 units.
Sales were not as encouraging in J&K wherein an 11.49 percent de-growth was recorded to 154 units in the past month as compared to 174 units sold in Sept 19. Marginal de-growth was also seen in Kerala to 24 units as against 26 units sold in Sept 19. Though Meghalaya saw a 100 percent increase in sales to 2 units last month, the other North Eastern states of Manipur, Mizoram, Nagaland, Tripura and Sikkim noted de-growth or zero sales.
OEM Wise Tractor Sales – Sept 2020
Among the leading tractor manufacturers in India, Mahindra Farm Equipments commanded the market with a 38.99 percent market share and 42,361 units sold in the past month as against 36,046 units sold in Sept 19. TAFE Tractor and Farm Equipment and Sonalika Tractors also noted increased tractor sales and a significant rise in market share. TAFE sales stood at 19,973 units and Sonalika sold 16,000 tractors in the past month, posting their highest ever monthly sales in Sept 20.
Also Read;
Statewise Car Sales Sep 2020
Statewise Two Wheeler Sales Sep 2020
Statewise Commercial Vehicle Sales Sep 2020
Statewise Three Wheeler Sales Sep 2020
