Tractor sales dipped 27.72 percent with every manufacturer posting a de-growth on a YoY basis
Federation of Automobile Dealers Associations (FADA), the apex national body of Automobile Retail Industry in India, has revealed total vehicle retail sales breakup for July 2022. While total sales dipped 8 percent YoY, there was a growth in three wheeler (80 percent) and commercial vehicle (27 percent) sales while 2 wheeler (-11 percent), passenger vehicle (-5 percent) and tractor (-28 percent) sales dipped YoY.
Talking exclusively of tractor sales in the past month, this de-growth could be attributed to an erratic monsoon season. There was an inequitable distribution of rainfall with some states receiving surplus rainfall while there was less rain in some states. This also resulted in a decrease in Kharif sowing causing some concerns to farmers. The festive season from the latter half of August and sufficient rainfall now being experienced across most of the country could spruce up demand in this segment in the upcoming months
Tractor Sales July 2022
Tractor sales in July 2022 stood at 59,573 units, a de-growth of 27.72 percent as against 82,419 units sold in July 2021. It was also lower by 22.90 percent when compared to sales of 77,272 in July 2020 while sales growth of 7.20 percent was reported over 55,571 units sold in July 2019.Taking into account Tractor retail sale on a MoM basis, there were a total of 57,340 units in June 2022
Even as every tractor OEM has posted a YoY de-growth, Mahindra saw the highest retail sales on this list with 14,295 units sold in the past month. This was against 20,217 units sold in July 2021. Market share dipped marginally from 24.53 percent to 24 percent YoY. Mahindra has launched 6 new tractors under Yuvo Tech+ brand with features that make them suitable for 30+ agricultural applications.
Mahindra Swaraj Division followed at No. 2 with 10,542 units sold in the past month, down from 13,114 units sold in July 2021. Market share however, increased to 17.70 percent in July 2022 from 15.91 percent held in the same month last year.
International Tractors (Sonalika) retail sales in July 2022 stood at 7,406 units, down from 9,139 units sold in July 2021. In the past month, market share went up to 12.43 percent from 11.09 percent held in July 2021. TAFE was next in line but suffered significant YoY de-growth in retail sales which dipped from 10,058 units sold in July 2021 to 6,615 units in the past month. Market share also fell to 11.10 percent from 12.20 percent on a YoY basis.
Escorts, John Deere, Eicher Tractors
Escorts Limited has posted 6,306 unit tractor retail sales in the past month. This was down from 8,819 units sold in July 2021 with market share dipping marginally to 10.59 percent from 10.70 percent YoY. Tractor Retail Sales list also had John Deere at No. 6 with 4,473 units sold in July 2022, down from 6,107 units sold in July 2021. It was followed by Eicher Tractors with retail sales of 3,565 units, down from 5,350 units sold in July 2021.
CNH (2,035 units) and Kubota (1,382 units) also posted YoY growth and reported a dip in market share on a YoY basis. Captain Tractors had sales of 434 units in July 2022, down from 515 units sold in July 2021 while Force Motors saw its retail sales down to 405 units in the past month from 449 units sold in July 2021. VST Tillers (375 units) and Indo Farm (215 units) also saw a YoY de-growth in July 2022 from 924 units and 270 units sold respectively in July 2021. There were also other tractor makers who added 1,489 units to total retail sales in July 2022, down from 2,492 units sold in July 2021.
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