Amidst Covid-19 Wave, Tractor Sale In India Takes A Hit
The domestic sale of tractors in India has taken a direct hit in the current wave of Covid-19 pandemic. The impact is significant in rural areas, where demand for tractors is high, with dealers downing shutters during the resultant lockdown.
Figures compiled by Tractor Junction show that 55,599 units were sold in May 2021 against 60,441 during last year, corresponding. This shows a drop in tractor sales by about 8%. Going by the data, it shows that the second wave of Covid-19 has hit hard rural India.
Mahindra & Mahindra sold 22,843 units in May 2021 against 24,017 units in May 2020. This data shows a 4.9% decline in sales. But the current leader has further increased its market share by 1.3%, the data adds.
"In May 2021, Covid spread in rural markets led to stringent lockdowns, resulting in deferment of tractor purchase and limited operations at dealerships,” according to Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd.
“In the exports market, we have sold 1,341 tractors with a growth of 314% over last year," he added.
While state-specific lockdowns and localized restrictions continue, there has been a reduction in the number of Covid cases. This, Sikka told Tractor Junction, is leading to a sharp improvement in farmer sentiments and green shoots of recovery are visible, especially since the last week, as farmers start preparing their land for upcoming Kharif crop season.
“A bumper Rabi harvest, record procurement, food prices holding up, gradual opening up of Mandis and expectations of a normal monsoon will pave the way for growth in the upcoming season,” he felt.
Meanwhile, the data showed that TAFE Group witnessed sales declining by 32.4% in comparison to May’20. They sold 9,505 units in May 2021, against 14,070 in May 2020. It also lost its market share by 6.2% in May 2021.
Sonalika Tractor also lost its market share by 0.3% in comparison to May 2020. The company sold 6,857 tractors in May 2021 against 7,640 units in May 2020. This shows a decline in their domestic sales by 10.2%.
Escorts Group also recorded a loss in domestic tractor sales in May 2021, with 6,158 units sold in May 2021 against 6,454 units in May 2020. The company's domestic sales decreased by 4.6 %. However, Escorts increased its market share by 0.4%, noted the data.
The company sees rural sentiment to be strong on account of all positive macroeconomic factors viz. prediction of a good monsoon, high crop production and better support by the government on crop prices.
Among other manufacturers, John Deere Tractor sales increased by 26.7% in May’21. They have sold 4,321 units in May 2021, against 3,411 in May 2020. With this, John Deere gained 2.1% in their market share in May 2021.
New Holland tractor company’s sales declined by 10.5% this month. They sold 2,189 units in May 2021 against 2,447 units in May 2020. New Holland tractor lost its market share by 0.1%.
Kubota Tractor registered second highest growth in this list of tractor company. Kubota tractors sales increased by 145.5% in May 2021. The company data shows 1,382 units sold this year against 563 units in last year. Kubota’s market share increased by 1.6% in May.
Preet Tractor’s domestic sales increased significantly. They recorded a phenomenal growth of 254.7% in domestic tractor sales in May 2021. With this, Preet tractor gains 0.7% in market share.
Indo Farm Tractor domestic sales noted 508 units in May 2021, and it registered 243 units in May 2020. They reported a gain of 109.1%. The Indo Farm Tractor market share increased by 0.5%.
VST Tractor domestic sales declined this month. It registered 496 units against 601 in 2020. This displays an 17.5% decrease, and it also lost 0.1% of the market share. Captain Tractor domestic sales noted 433 units in May 2021, while it registered 256 units in May 2020. They reported a gain of 69.1%. Its market share increased by 0.4% in May 2021.
Force Tractor lost 31.1% in its domestic sales this month. Force tractor domestic sales noted in May 2021 were 175 units, and in May 2020 were 254 units. They lost 0.1% of the market share. ACE Tractor also registered 38% decline in domestic sales with 116 units sold in May 2021 against 187 during last year, corresponding.
In May 2021, SDF Tractor sales noted 91 units, which is 39.3% lower than the tractor sales it recorded in May 2020.
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