The graph has gone down, Tractor industry to suffer a pinch of less sales this time!
Since the tractor industry is a prominent player in our economy, the recent statistics show a down graph of sales of tractors in India. The companies or the big names of this industry are catering less number of retail sales in the month of May 2021 followed by April 2021. The reason for the degrowth in sales of these brands is a repercussion of obvious circumstances taking place in the nation and worldwide.
Hoping that the tractor industry will be back on track soon as our country recovers from this pandemic, let’s look in detail at the sales figure of various tractor brands by interpreting the data provided by the FADA research.
The recent data disclose the sales figure of Mahindra & Mahindra of May 2021 with the number of 3803 and this goes down as compared to April 2021 that has sales as 8067. The downfall is backed by a market share of 22.9%.
Talking about other brands,
Swaraj has also got a deficit sales of 2952 in May 2021 which is comparatively less than the sales figures of April 2021 that is 6222.
Sonalika accounted for 2216 as the sales which is a decline in May 2021 month. The company, on the contrary, sold 4718 in April 2021.
TAFE Limited has sold out 1901 tractors in the same month of May and 4506 in April, which comparatively means that the company went down in growth.
Escorts too have notedly manage to sell 1738 tractors in May 2021 and in April 2021 it had a much more high number of 4542 sales.
John Deere India Pvt Ltd again had made sales of 1316 in May and 3223 in April. The sales downfall is still surprising here.
Eicher tractors sold 870 in May than 2231 tractors in April, which is again the less in comparison.
New holland tractor its sales as 597 to 1823 for the month of May and April respectively.
Whereas Kubota got a steep of 192 from 619, the figures represent May and April 2021 data respectively. The company could manage to capture only 1.2% of the market share.
Thus, likewise many of the companies in the tractor industry have suffered a seeming downfall that is obviously because of Lockdown 2021 and the menace of Covid 19. Since, the shutdown across the country has worked as the barrier for sales, due to Indian laws of combating the menace through Lockdown, the sales and company’s operations were paused and thus, the progress in capturing the market share has been very less. However, still Mahindra & Mahindra has sold maximum and the highest number of tractors in the market around.
Hopefully, the market will kick start with the unlocking process and thus, the tractor industry will get back to its front foot. The players in this industry need to marketize their sale procedures in a more rigorous way as the upcoming month of June is again going to be a prosperous trigger for them. Seemingly, this month is subjected to propel more sales.
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