Domestic Tractor Sales Dropped by 19.24% in December 2023 - 44,735 Units Sold.

December 2023 saw a decrease of 19.24% in domestic tractor sales. The total number of units sold in December 2023 was 44735, compared with 55390 in December 2022. Our next section shows a complete brand-by-brand breakdown of domestic tractor sales in December 2023. Here's what you need to know-

December 2023 Domestic Tractor Sales Report

World-class tractor brand Mahindra saw a 16.69% loss this month. Tractor sales figures from the company indicate that in December 2023, there were 18028 units sold, while in December 2022, there were 21640 units sold. In addition, the company's market share remained stable at 1.23%.

In response to the results, Hemant Sikka, President of M&M Ltd.'s Farm Equipment Sector, stated, "We have sold 18,028 tractors in the domestic market during December 2023. Retail momentum slowed down on account of the tapering of agricultural activities, which is the norm in December. Announcement of higher horticulture production and continued Government support to the agri sector are expected to support tractor demand. In the export market, we have sold 1,110 tractors."

Additionally, the domestic tractor sales of TAFE Group saw a loss of 28.71% this year. In contrast to the 10303 units sold in December 2022, the company sold 7345 units in December 2023. Consequently, the TAFE group experienced a 2.18% decline in market share in December 2023.

With 5825 units sold in December 2023 compared to 6862 units in December 2022, Sonalika Tractor's domestic tractor sales have clearly decreased by 15.10%. The business did, however, keep 0.63% of the market this year.

Market share for John Deere Tractor dropped by 0.39%. Additionally, the company's tractor sales decreased by 22.41% from 5443 units in December 2022 to 4223 units in December 2023.

Escorts Group reported a 17.03% decline in domestic tractor sales. In December 2023, the company sold 4131 units; in the same month the previous year, it sold 4979 units. However, the company's market share increased by 0.25% year over year.

As of December 2023, New Holland Tractor holds a 1.05% market share. In contrast to 1972 units sold in December 2022, the company sold 2064 units in December 2023. The domestic tractor sales in New Holland increased by 4.67%.

Kubota Tractor's domestic sales decreased by 29.23%. In December 2023, the company sold 1600 units; in December 2022, the company sold 2261 units. Consequently, Kubota tractors lost 0.51% of the market in December 2023.

Preet Tractor's domestic sales decreased by 3.22% to 421 units in December 2023 from 435 units in December 2022. Moreover, the company's market share increased by 0.16%.

As of December 2023, Indo Farm Tractor had a 20.62% decline. By the end of 2023, the company had sold 412 domestic tractors, compared to 519 units in December 2022. Indo Farm Tractors saw a 0.02% decrease in market share this time around.

VST Tractor Company reported a staggering 35.99% loss. In December 2023, the company sold 265 units, as opposed to 414 units in December 2022.

Between December 2023 and December 2022, ACE Tractor recorded a 10.96% decrease in domestic tractor sales, going from 203 units to 228 units. Nonetheless, there was a slight 0.04% gain in its market share.

In December 2022, when 272 units were sold, Captain Tractor reported a 35.29% decline in domestic tractor sales, with 176 units sold. However, the business's market share dropped by 0.10%.

Domestic sales of SDF Tractor fell by 33.87%. Its sales were 41 units as of December 2023 and 62 units as of December 2022. Additionally, SDF Tractor saw a 0.02% decline in market share in December 2023.

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