Domestic Tractor Sales Decline by 4% along with the exports recordable Decline

For your information, let us tell you that in the month of October this year, the sale of tractors has registered a significant decline. The effect was most pronounced in the southern part of India. Where, due to less rainfall and less subsidy, the sales have been very low. However, the sale of tractors is expected to increase this month. In the month of October, domestic tractor sales have registered a decline as compared to the previous year. In fact, the sale of tractors has fallen by 4 percent in the month of October. Overall, 118,232 tractors have been sold in October this year. Last year, the number was 123,525. Industry experts say that due to erratic monsoon and long festive season, sales in the month of October this time have been lower than last year. However, due to the purchase of Dhanteras and Diwali, the sale of tractors has seen a boom in November. It is expected that the sale of tractors in the month of November will be better than that of October.

Decline in the sales of tractor

According to a report published in Business Line, the country's top tractor manufacturer Mahindra & Mahindra sold 49,336 tractors in October 2023 with a decline of 2 percent. Tractor sales of Escorts Kubota, on the other hand, fell 9 per cent to 12,642 units last month. The best performance in the sale of tractors was in the northern regions. Where they sold the most. Similarly, in the western and eastern regions, sales were good to a large extent due to the subsidy received under the government scheme. However, the sales of tractors in the southern regions were not good.

Also read : 

Escort tractor will be sold in february 2021 with 30% fee added.

Decline in the exports of tractor 

Tractor Exports Decline at 7,186 Units in October 2023 Monthly Exports at 7,186 Units in October 2023 are lowest since June 2020. Tractor production was at 94,438 units in October. It was 90,688 units in September and 86,856 units in October 2022. Mahindra & Mahindra has reported a 33 per cent year-on-year decline in tractor exports at 7,470 units during April-October 2023 At the same time, according to tractor company Escorts, the slowdown in Europe is one of the major reasons for the decline in their exports. Europe is one of their special markets, in such a situation their exports have also been affected.

Also read: 

Likely to be Great in the Second Half - Hemant Sikka

President, Farm Equipment Sector, M & M, said that the second half of the current financial year will be spectacular. Because, higher total kharif yields, higher MSPs for major rabi crops and government support to the agrarian economy will drive positive sentiments. Farmers are supporting the demand for tractors. At the same time, the tractor industry is likely to end the current financial year with flat or marginally positive growth. "We don't expect any improvement in exports. It will decline by double digits during the coming year. He informed that during the current financial year, there has been a decline of 28% in tractor exports. Due to concerns over below normal monsoon and high base, NuWAMA has projected a flat number for FY2024.

Escorts Kubota Tractors ट्रैक्टर की बिक्री में 4 प्रतिशत कमी Tractors sales decline tractors sales down in October 2023 tractors sales down tractors sales TMA sales vehicle