Tractor sales in India rose 3.3% in July

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Monsoon approached normal, seeding increased, blockage lifted; this should bode well for the remaining months of this year, observers say.

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Tractor sales in India rose 3.29% in July 2021 as states began lifting interlocks to curb the spread of COVID-19. Total domestic tractor sales in July 2021 were 66,217 units compared to 63,137 units in July 2020.

Mahindra Group (M & M + Swa + Trak) Tractors recorded a 5.34% increase in July. The company sold 25,769 units in July 2021, up from 24,463 units last year. This is a clear increase of 1,306 units. Mahindra’s tractor market share was also up 0.77% in July 2021.

According to Hemant Sikki, president of Mahindra & Mahindra Ltd.’s agricultural equipment sector, “We sold 25,769 tractors domestically in July 2021, a 5% increase over last year. Demand remained high in July as crops were gaining momentum and the rainy season was on the rise in all regions. Loosening COVID restrictions and strong farm incomes thanks to record rabi crop purchases boded well for the rural economy. We remain optimistic about tractor demand in the coming months due to the resumption of the rainy season, increased MSP for major kharif crops and the approaching festival season.”

He added: “In the export market, we sold 1,460 tractors with an increase of 55%.”

However, Tafe Group (MF + Eicher) tractor sales were down about 5.25%. Sales of domestic Tafe tractors in July 2021 totaled 11,112 units; compared with 11,728 units in July 2020. At the same time, Tafe lost market share by 1.54%.

Sonalika Tractor also recorded a 1.27% decline in the domestic tractor market in July 2021. They sold 8,115 units in July 2021 compared to 8,219 in July 2020. They lost about 0.57% market share that month.

John Deere Tractor sold 7,244 units in July 2021 .; while 7,521 units were sold in July 2020, a 3.65% decrease in domestic tractor sales. The company lost 0.80% of its market share this time.

Meanwhile, Escorts Group recorded domestic tractor sales of 6,055 units in July 2021, an increase of about 22.25%. The company’s market share rose from 9.28% in July 2020 to 11.94% in July 2021.

“A three-week slowdown in monsoon activity from mid-June to mid-July temporarily impacted the Kharif crop, resulting in some lower sales in July,” the company said in a statement.

“However, the rainy season is now closer to normal, and seeding has also accelerated over the past few days. This should bode well for the remaining months of the year. In addition, most dealerships are now open and able to fully service customers. Commodity inflation continues to put pressure on profitability, despite three price increases in the last nine months,” the company added.

New Holland Tractor sales were down 4.55% and market share was 0.28%. From 2,310 units sold in July 2020, the company reached 2,205 units in July 2021.

Kubota Tractor domestic sales increased from 1,414 units sold in July 2020 to 1,953 units this year, an increase of 38.12%. As a result, the company’s market share increased by 0.76%.

But VST Tractor recorded a 13.90% decline this month with a 0.21% market loss, while Preet Tractor recorded domestic tractor sales of 503 units in July 2021, up from 201 units in July 2021, showing an increase of 150.25%.

However, the company’s market share increased significantly from 0.32% to 0.77%. As a result, Preet Tractor increased its market share by 0.45% in July 2021.