Tractor Sales March 2023 – Mahindra, Swaraj, Sonalika, TAFE, Eicher

Tractor retail sales improved by 3.84 percent YoY to 81,067 units in March 2023 while it was an 8 percent growth to 8,27,403 units in FY 2023

Federation of Automobile Dealers Associations (FADA) has shared vehicle retail data for March 2023 as well as for FY 2023. Growth was seen across all segments with 2W, 3W, PV and CV retail sales increasing by double digits while tractor sales saw only single digit growth.

Tractor Sales March 2023 – Mahindra and Swaraj maintain lead

Tractor sales clocked an all-time high in FY 2023 beating its previous record set in FY 2021. The segment could face some constraints as untimely rains and hailstorms have damaged rabi crops in north and central India. There are also predictions of poor monsoons this year, which could affect future sales. Total tractor retail sales in March 2023 stood at 81,067 units, up 3.84 percent YoY from 78,070 units sold in March 2022.

The segment was dominated by Mahindra Tractor and Mahindra Swaraj Division. Mahindra Tractor sales increased to 17,773 units in the past month, up from 14,093 units sold in March 2022. Market share also went up to 21.92 percent from 18.05 percent YoY. Mahindra Swaraj Division retail sales stood at 14,100 units in March 2023, up from 10,791 units sold in March 2022 to command a market share of 17.39 percent. Mahindra Oja has just been announced. It is the brand name of their Global Tractor Platform “K2”. Oja symbolizes ‘Vitality’ & ‘Source of Energy’ all set to transform the farming space.

We are pleased to announce “Mahindra Oja”- the brand name of our upcoming Global Tractor Platform “K2”. Oja symbolizes ‘Vitality’ & ‘Source of Energy’ all set to transform the farming space.@MahindraRise @hsikka1 @_MaheshKulkarni pic.twitter.com/s5GeJt4UD5

— Mahindra Tractors (@TractorMahindra) April 6, 2023

At No. 3 was Sonalika Tractors with 9,870 units sold last month, up from 9,293 units sold in March 2022. Its market share also improved from 11.90 percent to 12.18 percent YoY. It was followed by Escorts, India’s third largest tractor manufacturer, with retail sales of 9,009 units in the past month, up from 6,577 units sold in March 2022.

TAFE (8,936 units) and John Deere (6,816 units) each reported an increase in retail sales in March 2023 while sales of Eicher Tractors dipped to 5,129 units from 5,710 units sold in March 2022. This took market share down to 6.33 percent in the past month from 7.31 percent held in March last year.

Lower down the list was CNH Industrial (3,346 units) and Kubota (1,955 units) each posting a YoY increase in retail sales. However, tractor sales of VST Tillers (426 units), Force Motors (390 units), Indo Farm (332 units) and Preet Tractors (309 units) dipped on a YoY basis. There were others in this segment that also saw a steep decline in retail sales to 2,676 units in March 2023 from 11,702 units sold in March 2022.

Tractor Sales FY2023 Vs FY 2022

Taking into account total tractor retail sales of 8,27,403 units in FY 2023, it was a growth of 7.94 percent over 7,66,545 units sold in FY 2022. Mahindra Tractors and Mahindra Swaraj Division were the only two tractor manufacturers to cross 1 lakh unit sales mark. Mahindra Tractor sales stood at 1,76,736 units in FY 2023, up from 1,45,916 units sold in FY 2022. Market share improved to 21.36 percent from 19.04 percent. Mahindra Swaraj Division retail sales in FY 2023 were at 1,28,698 units, up from 1,04,674 units sold in FY 2022.

Sonalika Tractors sold 97,743 units in FY 2023 up from 89,962 units sold in FY 2022 while TAFE retail sales were at 92,546 units in FY 2023 from 81,217 units sold in FY 2022. YoY growth was also reported by Escorts with retail sales at 79,531 units in FY 2023 from 66,543 units sold in the same period last year. Retail tractor sales of John Deere increased from 52,489 units sold in FY 2022 to 60,450 units in FY 2023.

Eicher Tractors (52,870 units), CNH (30,047 units) and Kubota (20,753 units) each posted a YoY growth in retail sales in FY 2023. The same could not be said for VST Tillers that saw its retail sales dip to 5,290 units in FY 2023 from 5,993 units sold in FY 2022. Force Motors sales improved to 4,312 units while Preet Tractors (3,605 units), Indo Farm (3,456 units) and Captain Tractors (3,451 units) each posted a YoY de-growth in FY 2023. There were others in this tractor segment that saw combined retail sales of 67,915 units in FY 2023, down from 1,10,337 units sold in FY 2022.