Strong monsoon boosts tractor sales by almost 15% in September 2024

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Retail tractor sales surged by 14.69 percent in September 2024, thanks to a strong monsoon, improved crop harvests, and a revival in the rural economy, according to data from the Federation of Automobile Dealers Associations (FADA). A total of 62,542 tractors were sold in September, compared to 54,529 units in the same month last year.

FADA reported that sales for major brands like Mahindra, Swaraj, and John Deere increased year-on-year in September. However, on a month-on-month basis, sales saw a slight decline of nearly 3 percent from the 65,478 units sold in August.

Mahindra & Mahindra (M&M) recorded a notable 17.12 percent increase in sales, with 14,762 tractors sold in September 2024, up from 12,604 units the previous year. Similarly, Mahindra's Swaraj division experienced an 11.67 percent sales rise, selling 11,011 tractors compared to 9,860 units last year.

International Tractors Limited, the flagship firm of the Sonalika Group, reported a 14.94 percent growth, selling 8,116 units in September, up from 7,061 the previous year. TAFE, led by Mallika Srinivasan, sold 7,285 units, reflecting an 11.65 percent increase from 6,869 units sold in September 2023. Escorts Kubota Limited also saw a 10.09% rise, with 6,313 tractors sold compared to 5,832 units last year.

Eicher recorded sales of 3,804 units, up 6.08 percent from 3,745 units in September 2023. Kubota Tractors sold 1,201 units, slightly higher than the 919 sold last year. John Deere saw a significant increase of 28.29 percent, selling 4,843 units compared to 3,775 units in the same month last year. CNH Industrial (India) also reported growth, selling 2,525 units in September, up from 1,901 units in the previous year.

Despite the recent uptick, tractor sales have faced challenges in the last few years, largely due to weak monsoons. However, manufacturers remain optimistic and expect sales to increase during the upcoming festive season.