Around 60,717 tractors were sold in the Indian market for December 2020 and the Tractor Industry registered a YoY growth of 42%!
The Tractor Industry has been the exceptional performer in the Covid era and the sales have shot up much ahead of expectations. The spike in sales is attributed to better monsoon season, easy finance availability, increased MSPs and market rates realization. The agricultural sector wasn’t impacted that much by the pandemic, in comparison to urban areas.
The OEMwise Tractor Sales for December 2020 is as shown below –
The Tractor Industry registered an increase in sales to 60,717 units in Dec’20 from 42,806 units in Dec’19. The YoY Growth Analysis and the Market Share statistics is as highlighted above.
M&M and Swaraj were the Market Leader and India’s largest selling Tractor manufacturer for December 2020. It sold 21,173 units and commanded a Market Share of 34.8%. However; the OEM registered a Market Share fall of -5.3%.
TAFE grew an impressive 59.6% YoY and was the second best tractor manufacturer for the month. It was able to increase its Market Share to 18.2% in Dec’20 v/s 16.2% in Dec’19.
International Tractors Limited (Sonalika) saw a YoY growth of massive 72% and its Market Share shot up to 14% in Dec’20 from 11.5% in Dec’19!
Escorts recorded one of the highest YoY growth in Dec’20 and was just 85 units short of 4th ranked John Deere. Escorts also had the highest Market Share increase in Dec’20.
Tractors Domestic Dispatches Market Share for Dec’20 –