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VST Tractors reports a 19.14% decline in tractor sales but makes up for it with a 7.46% growth in power tiller sales in February 2024.
By Robin Kumar Attri
VST Tractors and Tillers Sales Report for February 2024 reveals a mixed performance with a decline in tractor sales but a notable increase in power tiller sales. The company sold 397 tractors, experiencing a 19.14 percent decline from the previous year. On the other hand, power tiller sales witnessed a growth of 7.46 percent, with 3773 units sold in the domestic market.
In February 2024, VST Tractors sold 397 tractors in the domestic market, reflecting a decline of 19.14 percent compared to the same month in 2023 when 491 units were sold. This decline resulted in a sales difference of 94 units.
However, VST recorded a positive trend in power tiller sales during the same period. The company sold 3773 power tillers in February 2024, reflecting a growth of 7.46 percent compared to the 3511 units sold in February 2023.
When combining tractor and power tiller sales, VST achieved a total of 4170 units in February 2024, marking a growth of 4.19 percent compared to the 4002 units sold in February 2023.
VST Tractors and Tillers disclosed a year-on-year sales report for the financial year 2023-24, indicating a decline of 3.93 percent in total sales of power tillers and tractors during the 11 months from April to February.
In this period, power tiller sales suffered a marginal 0.44 percent decline, with 32507 units sold in FY24 compared to the 32653 units sold in FY23. Tractor sales, however also faced a more notable decrease of 22.93 percent, with 4626 units sold during the 11 months in FY24 compared to the 6003 units sold in FY23.
Also Read: VST Tillers & Tractors Sales Decline in January 2024
VST Tractors and Tillers aims to navigate the market dynamics and support the positive growth in power tiller sales by addressing the challenges posed by the decline in tractor sales during the 2023-24 financial year.
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