Around 92,888 tractors were sold in the Indian market for June 2020 and the Industry registered a YoY growth of 22.4%!
While we saw a degrowth of -47.2% in the Passenger Vehicle sales for June 2020 (Source); the positive momentum in tractor sales is a clear indication of growing economic activities in the rural India. The above average monsoons and the government boost for agriculture has benefited the Rural India/Bharat and the tractor sales also indicates a robust harvest this year.
The OEMwise Tractor Sales for June 2020 is as shown below –
|1||M&M + Swaraj||35,844||31,879|
The Tractor Industry registered an increase in sales to 92,888 units in June’20 from 75,859 units in June’19. The YoY Growth Analysis and the Market Share statistics is as highlighted –
- M&M and Swaraj were the Market Leader and India’s largest selling Tractor manufacturer for June 2020. It sold 35,844 units and commanded a Market Share of 38.6%. However; the OEM registered a Market Share fall of -3.4%.
- TAFE grew an impressive 35.3% YoY and was the second best tractor manufacturer for the month. It was able to increase its Market Share to 20.5% in June’20 v/s 18.6% in June’19.
- Sonalika was the dark horse and recorded the highest Market Share growth in June 2020! Sonalika Tractors saw a YoY growth of massive 55.1% and its Market Share shot up to 14.7% in June’20 from 11.6% in June’19!
- Escorts was able to match the overall industry growth of 22-23% in June’20. The OEM sold 10,623 units in June’20 v/s 8,648 units sold in June19.
- John Deere was the only tractor manufacturer in Top 5 to record a YoY degrowth. It also registered a Market Share fall of -2.5% in June’20 v/s June’19!
Data Source: Tractor Junction