By Suraj
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Updated On: 14-Nov-2022 06:25 AM
The domestic tractor sales report for October 2022 spiked by 6.9%. In this month, Mahindra Tractors witnessed the highest growth in market share and number of sold units than its rivals
The domestic tractor sales report for October 2022 spiked by 6.9% compared to October 2021. According to the available data, tractor manufacturers sold 1,23,587 units against 1,15,542 units last year. At the same time, Mahindra Tractors witnessed the highest growth in market share and number of sold units than its rivals.
In this article, we will discuss the sales figures of each company and try to understand which tractor manufacturing company performed better than their competitors.
| Tractor Brand | Sales October 2022 | Sales October 2021 | Growth (%) | MS October 2022 | MS October 2021 | MS YoY |
|---|---|---|---|---|---|---|
| M&M Group | 50539 | 45420 | 11.27 | 40.89 | 39.31 | 1.58 |
| TAFE Group | 21023 | 21814 | -3.63 | 17.01 | 18.88 | -1.87 |
| Sonalika | 16268 | 14000 | 16.2 | 13.16 | 12.12 | 1.05 |
| Escorts | 13843 | 12749 | 8.58 | 11.2 | 11.03 | 0.17 |
| John Deere | 11373 | 11078 | 2.66 | 9.2 | 9.59 | -0.39 |
| New Holland | 4650 | 4153 | 11.97 | 3.76 | 3.59 | 0.17 |
| Kubota | 2963 | 2527 | 17.25 | 2.4 | 2.19 | 0.21 |
| Preet | 700 | 852 | -17.84 | 0.57 | 0.74 | -0.17 |
| Indo Farm | 602 | 749 | -19.63 | 0.49 | 0.65 | -0.16 |
| Force | 456 | 524 | -12.98 | 0.37 | 0.45 | -0.08 |
| VST | 436 | 846 | -48.46 | 0.35 | 0.73 | -0.38 |
| ACE | 318 | 316 | 0.63 | 0.26 | 0.27 | -0.02 |
| Captain | 301 | 281 | 7.12 | 0.24 | 0.24 | 0.00 |
| SDF | 115 | 233 | -50.64 | 0.09 | 0.20 | -0.11 |
| Total | 123587 | 115542 | 6.96 | 100 | 100 | 0 |
Mahindra Tractor sales report for October 2022 was quite satisfactory as it sold out 50,539 units against the 45,420 units in October 2021. Due to better sales figures, it witnessed 11.27% of growth. If we add its exports to the domestic sales figure, it will reach 51,994 units, whereas last year, it was 47,017.
TAFE Group's domestic sales reached 21,023 units against 21,814 units in October 2021. This brand faced about a 3.63% decline in its domestic tractor sales. But still, this company stood in the second position in selling the highest number of tractor units in the Indian market.
Sonalika Tractors is known for its robust tractor models and Indian farmers like them. If we talk about its tractor sales figure for October 2022, it stood at 16,268 units which were 14,000 units last year. This brand also saw a growth of 16.20% in domestic tractor sales.
Escorts Tractors' domestic tractor sales report for October month compiled at 13,843 units compared to 12,749 units in October 2021. Escorts group also noticed a growth of 8.58% in terms of selling a maximum number of tractor units in India.
John Deere's tractor sales report shows a positive growth of 2.66%. This tractor brand managed to sell out 11,373 units in October 2022 compared to last year's 11,078 units in the same month.
New Holland witnessed gross domestic tractor sales of 4,650 units in October 2022 against 4,153 units in October 2022. Also, this tractor manufacturing company saw a market growth of 11.97%.
Kubota's domestic tractor sales figure reached 2,963 units in October 2022 and 2,527 units in October 2021. Based on its sales last month's sales, it witnessed a growth rate of 17.25%.
Preet's domestic tractor sales slightly declined, and it managed to generate 602 units of sales last month. In contrast, it had total sales of 852 units in October 2021. If we talk about its domestic tractor sales growth, it declined by 17.84%.
Indo Farm's domestic sales also declined by 19.63%, and it generated sales for 602 units. In contrast, last year, it generated a sales figure of 749 units for the same month.
Force Tractors' reported its October 2022 tractor sales at 456 units, which was 524 units in October 2021. This brand also faced a domestic tractor growth decline of 12.98%.
VST Tractors sold 436 units against the 846 units of October 2021. This company saw a massive drop in its sales by 48.46%.
ACE's domestic tractor sales reached 318 units than the 316 units of October 2021. This tractor brand saw a sales increase of 0.63%.
Captain Tractor's domestic sales figure measured 301 units, whereas it was 281 units in October 2021. It also saw an increase in its domestic sales by 7.12%.
SDF's domestic tractor sales dropped by 50.64% as it sold 115 units compared to 233 units in October 2021.
The domestic tractor sales report for October shows a 6.96% spike, where leading tractor manufacturers like Mahindra, Sonalika, Escorts, New Holland, and John Deere saw an increase in their sales compared to last year's sales figure. However, tractor manufacturers like TAFE Group, Force, and Indo Farm saw a decline in their tractor sales growth.
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