A Snapshot of Mahindra, Sonalika, Escorts Kubota, and VST Tractor Sales in February 2024

02 Mar, 2024

The month of February 2024 ended and we’re just a month away from the end of FY 24. Hence, the performance of the giants of the Indian tractor industry this month can help you understand a lot more about market trends and consumer preferences.

As the sales reports for February 2024 are out, we decided to provide you with a quick overview of Mahindra's tractor sales, VST's tractor sales, Sonalika's tractor sales, and Escorts Kubota's tractor sales in February 2024.

Mahindra Tractor Sales in February 2024

Mahindra sold a total of 21,672 tractors in domestic & export markets during February 2024. Out of this sale, the company sold 20,121 tractors in the domestic market and 1,551 tractors in the export market. While the YoY total and domestic sales slumped by 16% and 18% respectively, the YoY export sales marked a growth of 32%.

Sonalika Tractor Sales in February 2024

Sonalika sold a total of 9,722 tractors in both domestic and export markets and seized 16.1% overall tractor market share. Sonalika has a reason to celebrate in February 2024 as it’s India’s only tractor manufacturer that experienced growth and gained a 3% hike in the total market share.

Escorts Kubota Tractor Sales in February 2024

Escorts Kubota’s total sales is 6,481 tractors in February 2024. It sold 6,041 tractors in the domestic market and 440 tractors in the export market. The company recorded a YoY sales drop of 17%, 16.6%, and 22.3% respectively in total tractor sales, domestic tractor sales, and export tractor sales.

VST Tractor Sales in February 2024

The VST total sales is 4,170 units in February 2024. This is the total sale of power tillers and tractors. The breakdown of power tillers and tractor sales is 3,773 units and 397 units respectively.

What do the numbers indicate?

After carefully examining these numbers, we observed that almost every player in the Indian tractor industry, excluding Sonalika, reported a certain decline in YoY tractor sales. One possible reason for this is the erratic monsoon that impacted the harvest in Southern and Western parts of India. However, an anticipated good Rabi harvest and the government’s support to the farmers will certainly boost the tractor demands in the coming months.