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Fada Research shows retail tractor sales up by 11.14 percent YOY in January 2021

    Fada Research shows retail tractor sales up by 11.14 percent YOY in January 2021

2021 has shown up with plenty of expectations for the Indian tractor industry as the very first month of 2021 has demonstrated a development in tractor sales by a total of 11.14%. Such a decent beginning of 2021 indicates a year brimming with hopes and new possibilities lying ahead for the tractor industry.

 

This development in sales of tractors prompted an expansion in sales of a lot of the tractor industries yet even after the increment in sales a portion of these organizations even the significant ones have seen a decline in their market share during this month.

 

However, regardless of this increment in the tractor sales, a portion of the significant brands have still experienced a major decrease in their sales during January 2021.

 

Let's find out more about the market shares and sales of January 2021 by interpreting the information given by the Federation of Automobile Dealers Associations (FADA).

 

How about we first look at how the significant brands of the farm vehicle industry have performed-

 

As consistently this time again Mahindra and Mahindra bested the pieces of the pie list with sales of 13,476 units and market shares of 22.18%. Despite the fact that its sales expanded by 548 units, it’s market shares diminished by 1.47% in January 2021 when contrasted with January 2020.

 

Mahindra and Mahindra has been again trailed by its another division Swaraj in this rundown. However, in contrast to Mahindra and Mahindra, this time Swaraj has effectively figured out how to build its diagram in both market shares as well as sales by obtaining a sum of 16.81% of market shares with sales of 10,211 units of tractors.

 

This time again ITL played well and took the third position of the overall industry list with an aggregate of 14.23% of market shares of the overall industry and sales of 8,647 units of work vehicles that were just 12.01% and 6,563 units during the exact month in 2020.

 

Rather than TAFE, in the first month of 2021 Escorts got the fourth position in the rundown and following ITL it additionally demonstrated an expansion in both market shares as well as the sales. In January 2021 it encountered sales of 6,941 units of tractors and gained 11.42% of market shares of the overall industry that are 738 units and 0.06% more than that of January 2020.

 

This month hasn't been useful for TAFE as during this month it has demonstrated a decrease in both its markets shares by 1.18% and in its sales by 19 units when contrasted with January 2020.

 

John Deere India Pvt. has beaten Eicher Tractors during this month to obtain the 6th situation in the market share table. It encountered a grade in its sales, while effectively figuring out how to save it from encountering a decrease in market shares while keeping it steady on 7.77%, while on the other hand Eicher Tractors securing the seventh position in the table indicated a decrease in market shares just as its sales. This nonstop decrease in market shares of Eicher is certifiably not a decent sign for its impending future, particularly in such a competitive market.

 

As consistently Eicher is trailed by New Holland and Kubota in the table this month as well. Both New Holland and Kubota have effectively figured out how to show positive development in both its sales and market shares.

 

This positive growth in both sales and market shares of arising brands in the market like New Holland and Kubota demonstrates a promising future for these brands in the Indian tractor market.

 

Now, how about we look at the more modest names of this industry:-

 

This month hasn't been useful for the more modest brands as a large portion of the more modest brands has indicated a significant decrease in their market shares. What's more, with regards to tractor sales just a portion of the smaller industries like Force engines and V.S.T Tillers had the option to show slight development in their sales while then again brands like Captain and Indofarm wasn't even ready to keep up or increment their tractor sales during January 2021.

 

What is waiting for us ahead?

 

The development in sales of tractors in the first month of 2021 shows us the additional opportunities that this market holds in it. With this New Year and no pandemic, it is normal that the tractor industry will develop more quickly to settle the agricultural difficulties hanging tight ahead for us. With this development, the competition between these tractor brands will develop fiercer as well as it is expected that the improvement of farm machinery will happen in a manner to ensure the safety of our mother earth.

This development additionally shows the extraordinary prospects the Indian tractor market holds for the different farm machinery organizations across the globe.

 

Disclaimer:

  1. The above numbers do not have figures from AP, MP, LD, & TS as they are not yet on Vahan 4.
  2. Vehicle Registration Data has been collated as on 07.02.21 and in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,273 out of 1,480 RTO's.

https://tractorgyan.com/tractor-industry-news-blogs/662/fada-research-shows-retail-tractor-sales-up-by-19-percent-yoy-in-february-2021-in-india

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