Retail Tractor Sales Cross 8,90,000 Milestone in FY'24

08 Apr, 2024

FY’24 has come to an end and Retail Tractor Sales in FY’24 help us understand the performance of leading tractor manufacturers in India through the manufacturer-wise retail tractor sale in FY 2024.

TractorGyan had a close watch over the Retail tractor sales in Financial Year 2024 and we present to you a crisp overview of the revealed numbers by FADA.

FADA Retail Tractor Sales Report for FY’24

1. Mahindra & Mahindra Tractor Sales in FY’24 

Mahindra & Mahindra became the highest tractor-selling brand in India. Mahindra Tractor sales in FY’24 are 2,04,737 units and it grabbed 22.94 % market share. In FY’23, Mahindra sold 1,76,763 tractor units in the retail markets and its market share was 21.31%.

Considering this figure, we can easily conclude that FY’24 was far better for Mahindra as compared to FY’23.

2. Mahindra & Mahindra Tractor Sales, Under Swaraj Division, in FY’24 

Swaraj is the sub-brand of Mahindra & Mahindra and it has become the second-highest-selling brand in India. Swaraj FY’24 tractor sale is 1,59,958 units and its market share is 17.93%. As compared to FY’23, this is a slightly better performance as Swaraj FY’23 tractor sales were 1,28,725 units and its market share is 15.52%.

3. International Tractors Limited, Sonalika Tractors, Sales in FY’24 

Sonalika Tractors is the 3rd highest tractor-selling brand in India in FY’24 with total tractor sales of 1,14,207 units and 12.80% market share. Sonalika FY’23 tractor sales were 97,775 units and its market share was 11.79%.

This way, Sonalika performed better in FY’24 in comparison to FY’23.

4. TAFE LTD (Massey Ferguson) Tractor Sales in FY’24  

With 1,08,101 retail tractor sales and 12.11% market share, Massey Ferguson became the 4th highest-selling tractor brand in India for FY’24. Compared to FY’23, Massey Ferguson performed well in FY’24 as the tractor sale in FY’23 was 92,599 units and its market share was 11.16%.

5. Escorts Kubota Limited (Farmtrac and Powertrac) Tractor Sales in FY’24

Escorts Kubota Limited had a better performance in FY'24 as the Escorts Kubota FY’24 retail tractor sales in 89,830 units and its market share remained at 10.07%. Escorts Kubota FY'23 tractor sales were 79,543 units and its market share was 9.59%.

Source: FADA Tractor Sales Data FY’24

6. John Deere Tractor Sales in FY’24 

John Deere experienced a slight drop in its retail tractor sales performance in FY'24 as compared to FY’23. John Deere FY'24 retail tractor sales are 63,718 units and its market share is 7.14% whereas John Deere FY’23 tractor sales were 64,570 units and its market share was 7.78%.

7. Eicher Tractor Sales in FY '24 

Eicher FY’24 retail tractor sales were 59,514 units in the retail tractor market and it captured a market share of 6.67% with this impressive sales. Compared to Eicher FY’23 tractor sales of 53,068 units and 6.40% market share, Eicher FY’24 remained a good year.

8. CNH Industrial (New Holland Tractor) India PVT LTD Tractor Sales in FY’24 

New Holland FY’24 retail tractor sales are 36,227 units and its market share is 4.06% units. With this impressive sale, New Holland became the 8th highest tractor-selling brand for FY’24. New Holland FY’23 retail tractor sales were 30,051 units and its market share was 3.62%.

9. Kubota Agricultural Machinery Pvt. LTD. Tractor Sales in FY’24 

Kubota's FY’24 retail tractor sale is 17,673 units and its market share is 1.98%. This tractor manufacturer experienced a drop in YoY retail tractor sales for FY’24. It sold 20,762 tractor units in FY’23 and its recorded market share was 2.50%.

10. Captain Tractors PVT. LTD Tractor Sales in FY’24

Captain’s FY’24 retail tractor sales are 5,038 units and its retail tractor market share is 0.56%. In comparison to FY’23, FY’24 remained slightly better for Captain because the retail FY’23 tractor sale was 3,451 units and its market share was 0.42%.

11. VST Tillers Tractors Limited Tractor Sales in FY’24 

VST retail tractor sales for FY'24 was 4,342 units and its market share was 0.49%. In FY’23, VST’s retail tractor sales were 5,293 units and its market share was 0.64% units.  With this recorded FY’24 retail tractor sales, VST experienced a slight drop in YoY sales.

12. Gromax (Trakstar Tractors) Agri Equipment Tractor Sales in FY’24 

Gromax Agri Equipment retail tractor sales for FY’24 is 3,197 units and its market share is 0.36%. For FY’23, retail tractor sales of Gromax Agri Equipment were 3,107 units and its market share was 0.37%. 

13. Others Tractor Brand’s Sales in FY’24

Other tractor brands in India collectively recorded retail tractor sales of 25,771 units and their market share was 2.89% in FY’24 . In FY’23, they performed far better than FY’24 as their total retail tractor sales were 73,932 units and their market share was 8.91%. 

Total Retail Tractor Sales for FY’24 

For FY’24, the total retail tractor sales in India is 8,92,313 units and it demonstrated an impressive 7.55% YoY growth. The retail tractor sector is amongst the top 4 auto categories in India that experienced YoY growth. FY’23 retail tractor sales in India were 8,29,639 units. 

Total Retail Tractor Sales for March 2024

The total March 2024 retail tractor sales in India is 78,446 units against the 81,148 units sold in March 2023 and recorded a 3.33% YoY drop. 

Source: FADA March '24 Tractor Sales Data

TractorGyan’s Take on Retail Tractor Sales in India for FY’24 

For FY’24, Mahindra, Swaraj, Sonalika, and TAFE become the top four brands in India and the overall sector surpasses the industry’s growth with 7.55% YoY growth. The launch for new series and tractor models from some of these brands helped boost the retail tractor sales.  

For’25,  factors like boosted economic growth, farmers’ friendly government policies, and expected good monsoon are likely to boost tractor demands.