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Tractors was the category to register the highest YoY growth in September 2020. Tractors registration continued its positive momentum showing a growth of 80.4% in Sep’20 v/s Sep’19.
Rural market continued to show strong growth due to a good monsoon. Tractor sales was positively impacted with the monsoon progress and spread. Riding high on back of good monsoons, favorable Kharif season and increased disposal income in the rural areas majority OEMs registered high double-digit growth in September 2020 sales.
Source: FADA Research
Mahindra + Swaraj commanded a Market Share of 39.47% in September 2020 and its market share reduced by -0.49% when compared to September 2019.
Sonalika outsold TAFE again in Sep’20 and recorded a Market Share of 12.8% in September 2020. Sonalika has been extremely consistent in the past few months and the sales growth is a testimony of it. It has also recorded highest ever H1 Sales of 63,561 Tractors & 26,520 implements in FY21 (Source).
TAFE registered sales growth too and grew 86.27% in Sep 2020 v/s Sep 2019. It saw its market share increase by 0.36% and slid to the fourth spot.
Escorts recorded a YoY growth of 76.9% but its market share fell by -0.21%.
Statewise Tractor Sales / Registrations in September 2020 –
Maharashtra performance was exemplary in September 2020. Maharashtra YoY growth was a record 219.4%.
Bihar was the only eastern state in top 5! Bihar’s tractor sales improved a mammoth 84.3% in Sep’20 v/s Sep’19. The return of migrant workers in Bihar has given an stimulus to the sale of tractors in the state, with the state recording one of the highest increase in percentage terms in H1 FY2021.
Uttar Pradesh was the No.1 State in terms of Tractor Sales and it registered a YoY growth of 58.6% as well.
Rajasthan ranked third and was 3,234 units short of Maharashtra.
Note:
The above numbers do not have figures from AP, MP, LD & TS as all these States/UT’s are not yet on Vahan 4.
Vehicle Registration Data has been collated as on 06.10.20 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,254 out of 1,461 RTOs.