India tractor sales increase by 7% YoY in Nov amid positive rural sentiment

India tractor sales increase by 7% YoY in Nov amid positive rural sentiment

Domestic tractor sales in November were at 67,940 units, against 63,783 units in the same period last year, according to data released by the Tractor and Mechanization Association.

FPJ Web DeskUpdated: Wednesday, December 14, 2022, 08:13 PM IST
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India tractor sales increase by 7% YoY in Nov amid positive rural sentiment | File/ Representative Photo

Due to positive sentiment in the rural market after the festival season, tractor sales in India went up by 6.5 per cent year-on-year in November. Adequate water levels in reservoirs and higher minimum support prices of rabi crops also supported the boost.

Domestic tractor sales in November were at 67,940 units, compared with 63,783 units in the same period last year, according to data released by the Tractor and Mechanization Association.

However, domestic tractor sales fell by approximately 45 per cent in November. In October, the tractor segment's sales were at an all-time high because of the festival season.

Total tractor sales, including exports in November, were at 77,824 units, 4.4 per cent higher than last year. Though the exports continued its declining trend, with an 8.4 per cent year-on-year decline in November at 9,884 units . In October, the exports were at a 17-month low, down by 27.1 per cent year-on-year at 8,888 units.

Mahindra & Mahindra Ltd through its Mahindra and Swaraj brands, is the largest tractor maker in the country with a market share of around 40 per cent. International Tractors Ltd, which owns Sonalika brand, and Escort Kubota Ltd have a market share of around 11-13 per cent.

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