India see a rise in domestic tractor sales in January

ATM News Network: The tractor sales in the domestic market saw a growth in January too and marked 15 percent growth on average compared to the last year's January figures. The festive season helped the tractor manufacturers to increase their sales. Escort Kubot registered growth in sales at 16 percent year on year basis. Mahindra tractor's total sales, including exports, saw an increase of 28 percent in January.

Auto sales numbers are keenly watched as they are among the key indicators for assessing private consumption, which has a more than 50% weightage in calculating the country's economic growth. India's inflation has remained at elevated levels well above the Reserve Bank of India's upper tolerance band of 6% but has recently shown some signs of easing.

As per reports from Tractor Junction, Mahindra Tractors Ltd released its January 2023 tractor sales report. The total sales of Mahindra tractors in January 2023 were 28,926 units, as against 22,682 units in January 2022. The Mahindra tractors sales data shows an increase in sales by 28%.

Mahindra’s domestic tractor sales were 27,626 units in Jan 2023, compared to 21,162 units in January 2022. Domestic tractor sales show a double-digit growth of 31%. The export sales of Mahindra tractors were recorded at 1300 units in January 2023, compared to 1520 units in January 2022. The export sales data shows a decline of 14%, reported Tractor Junction.

VST tractor recently compiled its tractor sales data for January 2023. This one of the leading tractor brands sold 600 tractors in January 2023, whereas the sales for January 2022 were 468 units. Moreover, the VST sold 3706 power tillers in Jan 2023 against 3178 power tillers in January 2022.

Escorts Kubota Limited Agri machinery segment sold 6,649 tractors in January 2022, as against 5,707 tractors in January 2023, reflecting a growth rate of 16.5%. Domestic tractor sales of Kubota in January 2023 were 6,235 tractors as against 5,103 tractors in January 2022. The domestic tractor sales data of Escorts Kubota has increased by 22.2%. The export tractor sales in January 2023 were 414 tractors against 604 tractors in January 2022, showing a decline of 31.5%.

(Except for the headline, this story has not been edited by ATM staff and is published from a web feed.)