FADA Tractor Sales Report: Decline in Sales Marks Nov'23, Mahindra and Swaraj Face Significant Losses

In a recent report released by the Federation of Automobile Dealers Associations (FADA), the retail tractor sales data for November 2023 reveals a substantial downturn in the Indian market, indicating a broader trend in the agricultural machinery sector. The total tractor sales for November 2023 stood at 61,969 units, depicting a sharp 21.28% decrease from the 78,720 units sold during the same period in 2022.

November 2023: Retail Tractors Sales Report

Mahindra Records 24.21% Degrowth:

Mahindra, a prominent player in the tractor industry, reported a 24.21% decline in sales, with 14,481 units sold in November 2023 compared to 19,107 units in November 2022. This decline also translated into a 0.90% reduction in market share for the company during the same period.

Swaraj Tractor, a Division of Mahindra, Sees 13.31% Sales Drop:

Swaraj Tractor, a division of Mahindra & Mahindra, faced a 13.31% decrease in sales, moving from 13,244 units in November 2022 to 11,481 units in November 2023. Despite the sales decline, Swaraj Tractor managed to gain 1.71% in market share.

Also Read: Sonalika Tractors Achieves Milestone Performance in November'23, 1 Lakh Tractor Sales for the 7th Consecutive Year

Notable Performances Across Brands:

Several other prominent tractor brands experienced varying degrees of decline. Sonalika Tractors witnessed a 14.41% drop in sales, while TAFE Limited reported a 20.65% decrease. Escorts Tractor recorded a significant 26.68% downfall, accompanied by a 0.74% loss in market share.

Eicher Tractor Shows 11.82% Drop with Market Share Gain:

Eicher Tractor reported an 11.82% decrease in sales, selling 4,527 units in November 2023 compared to 5,134 units in the same month last year. Interestingly, the company managed to gain 0.79% in market share during this period.

Also Read: Growth in Domestic Tractor Sales Marks November 2023 - Sales Increased by 6.81%, 72259 Units Sold

John Deere and New Holland Tractor Face Declines:

John Deere Tractor experienced a 17.74% downfall in sales, selling 4,443 units in November 2023 compared to 5,401 units in the previous year. New Holland Tractor also faced an 18.10% loss in sales but gained 0.14% in market share.

Kubota Tractor Records a Steep 42.80% Decrease:

Kubota Tractor recorded a significant 42.80% decline in retail tractor sales, with 1,005 units sold in November 2023 compared to 1,757 units in the same month last year. This downturn also resulted in a 0.61% degrowth in market share.

VST Tillers & Tractors Plunge:

VST Tillers & Tractors witnessed a staggering 61.79% drop in sales, with only 188 units sold in November 2023 compared to 492 units in November 2022. The company's retail market share also decreased by 0.33%.

Overall Market Scenario:

Apart from the highlighted brands, the overall tractor market experienced a substantial 52.57% downturn, with sales dropping from 3,127 units in November 2022 to 1,483 units in November 2023. Consequently, the market share also contracted by 1.58%.

The reasons behind this industry-wide contraction in tractor sales remain a subject of analysis, with factors such as economic conditions, agricultural policies, and global market dynamics likely playing pivotal roles. Industry experts are closely monitoring the situation to better understand and navigate the challenges posed to the tractor sector in India.

Also Read: Mahindra Tractor Sales Report Nov 2023: Sales Surge, Achieves 6% Growth with 31,069 Units Sold