Tractors was the only category to register YoY growth in July 2020. Tractors registration continued its positive momentum showing a growth of 37.24% in July’20 v/s July’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 July 2020 sales.
OEM wise Tractor Sales Performance for July 2020 –
Mahindra + Swaraj commanded a Market Share of 40.5% in July 2020 and its market share increased by 1.44% when compared to July 2019.
TAFE registered strong sales growth too and grew an impressive 47.37% in July 2020 v/s July 2019. It also saw a market share increase of 0.86%.
Sonalika ranked fourth and recorded a Market Share of 11.8% in July 2020.
Escorts was in touching distance of Sonalika and sold just 208 units that of Sonalika’s. It recorded a YoY growth of 46.64% and its market share improved too by 0.74%.
Statewise Tractor Sales / Registrations in July 2020 –
Maharashtra & Bihar performance was exemplary in July 2020. While Maharashtra YoY growth was a record 120.7%; Bihar’s tractor sales improved a mammoth 60% in July’20 v/s July’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 July 2020. As per experts opinion, the migrants are looking at agriculture as an alternate employment opportunity to compensate for loss of jobs during Covid-19.
Uttar Pradesh was the No.1 State in terms of Tractor Sales and it registered a YoY growth of 31.3% as well.
Gujarat came in second and around 11,704 tractors were registered in July 2020.
Rajasthan ranked third and was just 298 units short of Gujarat.
It is surprising to see that only 36 tractors were registered in Kerala in July 2020!
The above numbers do not have figures from AP, AN, MP, LD & TS as all these States/UT’s are not yet on Vahan 4.
Vehicle Registration Data has been collated as on 07.08.20 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,235 out of 1,445 RTOs.