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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 –RankOEMJun-20Jun-191M&M + Swaraj35,84431,8792TAFE19,08414,1093Sonalika13,6918,8274Escorts10,6238,6485John Deere5,8616,6836New Holland3,8452,5687Kubota1,4289518VST7896449Captain51834510Indo Farm30321011Force26328312Ace25619613Preet20214114SDF181375TOTAL92,88875,859
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