Four-Fold Boost In October 2022 Tractor Sales

This season farmers have seen tremendous growth and yield, and the credit for this successful farming output with profitable margins goes to the excellent monsoon season. A lucrative yield is always followed by a strong monetary output and consumer base because consumers with higher output will invest more in bringing their farming businesses up to speed. This thinking of farmers has led to a 'four-fold' increase in sales of tractors this October.

As per the data released by the Federation of Automobiles Dealers' Association (FADA), Gujarat, the month of October has seen an increase of 272 percent in tractor sales from October last year. A total number of 14,139 tractors were sold this October in comparison to 3, 795 tractors in October 2021.

Nazir Hussain, the Managing Partner of a Tractor Dealership, said in a statement, " As many buyers were waiting for subsidies to make a purchase, the state government launched them early October this year, this propelled the sales of tractors. this came as a double bonanza for dealers as buyers came up to buy under the subsidies and cheerful festive sentiments."

To make the work of farming more feasible, many tractors and farm machinery manufacturers produce various advanced Agri-machines and implements. These farm machinery and modern implements lead to a better yield and a better yield leads to more pleasing monetary output.

Following this, the former chairman of FADA, Gujarat, Pranav Shah also stated, "The government declared elevated MSPs for rabi crops for the upcoming season. Also, the satisfactory monsoon has generated better incomes for farmers. Thus, the uptake of agriculture-term loans ascended immensely. Thus, the overall sales were good."

Nazir Hussain, explaining the increasing demand for mini tractors, further commented, "Urban customers with small farm-houses, and land pieces use mini tractors as per their needs, and this trend has grown immensely in last three years. To help farmers, tractor makers also frequently launch new and advanced farm implements like ploughs, lend levelers, threshers, mowers, super seeders, rotavators, sub-soilers, and many more. All these implements make a tractor more functional for farmers as a result of this; sales are higher."

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6.96% Growth in Sales- Domestic Tractor Sales Report October 2022

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