In September 2023, the Federation of Automobile Dealers Associations (FADA) released data that caught the attention of both industry insiders and enthusiasts alike. According to their report, FADA Retail Tractor Sales experienced a notable decrease of 9.66% Year-over-Year (YoY). This unexpected decline has prompted discussions within the agricultural and automotive sectors. In this blog, we will dive into the details of this decline, explore potential reasons behind it, and speculate on the future of the tractor market.
Tractor Sales September 2023:
Mahindra tractors this year in September 2023 have shown a slight decline in their sales. In the FADA sales report, Mahindra and Mahindra recorded 12,600 tractor sales for September 2023, showing a marginal decrease compared to the 12,733 units sold in September 2022.
2. Sales report for Mahindra & Mahindra Under Swaraj Division
Swaraj Tractors on the other hand have shown a good growth in their sales volume in September 2023. In the sales report for Mahindra and Mahindra under the Swaraj Division, September 2023 recorded robust sales of 9,853 units, demonstrating a notable increase when compared to the 8,775 units sold in September 2022.
3. Sales report for International Tractors Limited (Sonalika Tractor)
In the sales report for International Tractors Limited, September 2023 witnessed a total of 7,056 units sold, which represents a slight increase compared to the 6,785 units sold in September 2022.
In the sales report for TAFE Limited, specifically the Massey Ferguson Tractor division, September 2023 reported sales of 6,862 units, displaying a modest decrease when compared to the 7,060 units sold in September 2022.
In the sales report for Escorts Kubota Limited, encompassing Farmtrac, Powertrac, and Digitrac, September 2023 recorded sales of 5,826 units, marking an increase from the 5,561 units sold in September 2022.
In the sales report for John Deere, September 2023 reported sales of 3,792 tractor units, which represents a decrease compared to the 4,630 units sold in September 2022.
In the sales report for Eicher Tractors, September 2023 recorded sales of 3,745 units, showing an increase compared to the 3,615 units sold in September 2022.
In the sales report for CNH Industrial, specifically for New Holland tractors, September 2023 reported sales of 1,903 tractor units, which reflects a decrease compared to the 2,263 units sold in September 2022.
9. Sales report for Kubota
In the sales report for Kubota, September 2023 saw a total of 918 tractor units sold, showing a decrease compared to the 1,445 units sold in September 2022.
10. Sales report of Other tractors
In the sales report of other tractor manufacturers, the data reveals that VST Tillers Tractors sold 279 tractors in September 2023, which is a significant decrease compared to the 538 units sold in September 2022. Force, on the other hand, reported sales of 251 tractors in September 2023, down from 345 units in September 2022. Similarly, Gromax recorded sales of 188 tractors in September 2023, a decrease from the 270 units sold in September 2022. Additionally, other manufacturers collectively sold 1,219 tractors in September 2023, marking a notable decrease from the 6,301 units sold in September 2022.
Hence, The 9.66% YoY decline in FADA Retail Tractor Sales in September 2023 raises important questions about the agricultural and automotive industries. While multiple factors may have contributed to this decline, it's crucial to remember that the tractor market is dynamic and adaptable. By addressing the challenges and seizing opportunities, stakeholders in the industry can work together to ensure the continued growth and success of tractor sales in the coming years.
Disclaimer
- The above numbers do not have figures from TS & LD.
- Vehicle Retail Data has been collated as of 06.10.23 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,352 out of 1,440 RTOs.
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