ATM News Network : The FADA Tractor Sales Report for April 2023 indicates a modest growth of 1.48% in tractor sales, painting a subdued picture for the year. However, according to FADA Retail Data, the demand for tractors is expected to increase due to government investments in new infrastructure and construction projects.
The report provides insights into the sales performance of various tractor brands in India, offering a closer look at their growth patterns over the last financial year.
Retail Tractor Sales in April 2023:
MAHINDRA & MAHINDRA LIMITED
The FADA tractor sales report highlights an overall growth of 18.14% in Mahindra tractor sales, with the company surpassing all competitors by achieving a remarkable 3.20% increase in market share.
MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION)
M&M Limited's Swaraj Division emerged as the second-best performer in terms of sales and market share growth. The division experienced a 2.44% increase in market share and recorded impressive sales growth of nearly 18.37%, as per the FADA tractor sales report 2023.
INTERNATIONAL TRACTORS LIMITED
Sonalika Tractors, also known as International Tractors Limited, demonstrated satisfactory growth with a 9.95% increase in tractor sales, while their general market share rose by nearly 0.96%.
TAFE LIMITED
TAFE, the second-largest tractor manufacturer in India in terms of volume, witnessed a 12.87% sales growth. With an overall market growth of 1.22%, TAFE outperformed other competitors, positioning itself behind Mahindra. These findings are based on the FADA tractor sales report 2023.
ESCORTS LIMITED (AGRI MACHINERY GROUP)
Escorts Limited experienced a remarkable growth of 24.51% in tractor sales, surpassing all other competitors in the market. Additionally, the company's market share increased by 2.07%.
JOHN DEERE INDIA PVT LTD (TRACTOR DIVISION)
John Deere, a leading farm-tech giant, displayed better performance compared to the previous financial year. The manufacturer witnessed a sales growth of 9.76%, with a market share increase of 0.62%.
EICHER TRACTORS
Sales of Eicher Tractors experienced a decline of 15.93%, accompanied by a loss of 1.19% in market share. However, it is anticipated that sales will rebound in the upcoming years.
CNH INDUSTRIAL (INDIA) PVT LTD
New Holland tractors demonstrated remarkable growth with a 17.57% increase in sales. However, the rise in market share was modest at 0.55%, as indicated by the FADA tractor sales report 2023.
KUBOTA AGRICULTURAL MACHINERY INDIA PVT. L.T.D.
Premier Japanese brand Kubota witnessed a sales growth of 4.19%. The company also saw a rise of 0.06% in market share, outperforming its counterparts.
V.S.T. TILLERS TRACTORS LIMITED
According to the FADA tractor sales report, V.S.T. tractor sales experienced a decline of 13.97%, resulting in a minor shrinkage of 0.10% in market share.
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE
Force Tractor sales plummeted by nearly 30.32%. FADA Retail Data suggests that the company also lost a market share of 0.21%.
PREET TRACTORS PVT LTD
PREET Tractor's sales witnessed a significant decline of 39.29% in the last financial year, resulting in an overall decrease in market share of approximately 0.26%.
INDO FARM EQUIPMENT LIMITED
The FADA tractor sales report also reveals a decline in INDO FARM Tractor sales, which dropped by nearly 37.87%. The company experienced a loss of 0.23% in market share.
Others
The FADA Sales report for 2023 presents a challenging outlook for other tractor manufacturers. Tractor sales for other brands slumped by 79.08%, while their market share declined by 9.11% in the last financial year.
FADA, the Federation of Automobile Dealers Associations, serves as the national apex body of the Automobile Retail Industry in India. The organisation publishes annual reports on tractor and other automobile sales. The FADA Sales report encompasses 1.48% of the overall tractor sales for all brands from April 2022 to April 2023.
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(Except for the headline, this story has not been edited by ATM staff and is published from a web feed.)
(Source: TractorJunction.com)