Domestic Tractor Sales Report: December 2023 Shows a 19.24% Decline, With a Total of 44,735 Units Sold

In December 2023, the domestic tractor industry witnessed a significant decline in sales, with an overall drop of 19.24%. The total units sold were 44,735, down from 55,390 in December 2022. Despite the tough market conditions, various tractor manufacturers navigated the challenges differently, with some managing to maintain market share resilience amid the decline. This period showed the strength of certain brands during a broader industry contraction, showing the need for adaptability and innovation in response to the evolving agricultural landscape.

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Here's a brand-wise breakdown of the domestic tractor sales for December 2023.

Domestic Tractor Industry Dec 2023

Also Read: VST Tillers & Tractors: December 2023 Tractor Sales Drop by 23.4%

Mahindra Tractor:

Mahindra, a prominent tractor brand, experienced a 16.69% decrease in sales, with 18,028 units sold in December 2023 compared to 21,640 in the same period last year. The company maintained its market share, showing resilience despite the challenging market conditions.

TAFE Group:

TAFE Group recorded a 28.71% decline in domestic tractor sales, selling 7,345 units in December 2023 compared to 10,303 units in December 2022. The group also saw a 2.18% decrease in market share during this period.

Sonalika Tractor:

Sonalika Tractor faced a 15.10% drop in domestic tractor sales, with 5,825 units sold in December 2023 compared to 6,862 units in the same month the previous year. Despite the decline, the company managed to maintain its market share by 0.63%.

John Deere Tractor:

John Deere witnessed a 22.41% reduction in tractor sales, with 4,223 units sold in December 2023, down from 5,443 units in December 2022. The company also lost 0.39% of its market share.

Escorts Group:

Escorts Group experienced a 17.03% fall in domestic tractor sales, selling 4,131 units in December 2023 compared to 4,979 units in December 2022. Despite the decline, the company maintained its market share by 0.25% year on year.

New Holland Tractor:

New Holland Tractor reported a 4.67% increase in domestic tractor sales, selling 2,064 units in December 2023 compared to 1,972 units in December 2022. The company maintained a market share of 1.05%.

Kubota Tractor:

Kubota Tractor recorded a significant 29.23% drop in domestic sales, with 1,600 units sold in December 2023 compared to 2,261 units in the same month last year. The company also lost 0.51% of its market share.

Preet Tractor:

Preet Tractor experienced a 3.22% decline in domestic sales, with 421 units sold in December 2023 compared to 435 units in December 2022. However, the company gained 0.16% in market share.

Indo Farm Tractor:

Indo Farm Tractor faced a 20.62% decrease in domestic tractor sales, with 412 units sold in December 2023 compared to 519 units in December 2022. The company lost 0.02% of its market share during this period.

VST Tractor:

VST Tractor reported a significant loss of 35.99%, with 265 units sold in December 2023 compared to 414 units in December 2022.

Also Read: Mahindra Tractor Sales Drop 17% in Domestic Market for December 2023

ACE Tractor:

ACE Tractor registered a 10.96% drop in domestic tractor sales, with 203 units sold in December 2023 compared to 228 units in December 2022. The company's market share marginally increased by 0.04%.

Captain Tractor:

Captain Tractor reported a 35.29% decline in domestic tractor sales, with 176 units sold in December 2023 against 272 units during the same period last year. However, the company lost 0.10% in market share.

SDF Tractor:

SDF Tractor witnessed a 33.87% decrease in domestic sales, with 41 units sold in December 2023 compared to 62 units in December 2022. The company also lost 0.02% of its market share in December 2023.

As the year came to a close, the domestic tractor industry grappled with a considerable decline in sales. Each manufacturer faced unique circumstances, some successfully holding onto market share while others experienced setbacks. Despite the challenges, industry experts remain optimistic, citing factors such as the announcement of higher horticulture production and continued government support for future tractor demand. The coming months will be closely watched to see how these companies adapt and innovate in response to the evolving agricultural scenerio.

Also Read: Escorts Kubota Faces 18.6% Drop in December 2023 Tractor Sales, Decline Sparks Concern