Tractor industry records 42% growth in the month of December
India's Tractor Industry registered an increase and Y-o-Y sales of massive 41.8 percent by selling 60,717 units in December 2020 as against 42,806 units sold in December 2019.
Tractor industry in India keeps on performing astoundingly well regardless of log jam in the greater part of the other auto sectors of the nation. The tractor section has ended up being a remarkable entertainer in the COVID-19 time and the deal has gone up dramatically for months now.
India's Tractor Industry enrolled an expansion and had an year on year sales increase of a gigantic 41.8 percent that can be achieved by selling 60,717 units in December 2020 compared to 42,806 units sold in December 2019.
The increase can be credited to factors like improved monsoons, finance accessibility, expanded minimum support price and market price realization. The expanding deals feature that the rural farming wasn't affected that much by the COVID-19 pandemic, in contrast with metropolitan zones.
Number 1 spot was taken up by Mahindra and Mahindra alongside Swaraj Tractors with 21,173 vehicles sold in December compared to 17,213 sold in 2019, enlisting a total growth of 23 %. But drop in the total share is also noticeable i.e. 40.21 % in 2019 to 34.8 % in 2020, disclosing the fact that other tractor producers are also growing.
Next in line was TAFE, who enrolled a gigantic growth of 59.6 % in December 2020. TAFE sold 11,095 units in 2020 compared to 6,952 units in 2019. TAFE’s market share also expanded from 16.2 % in Dec'19 to 18.2 % in Dec'20. Global Tractors Limited with Sonalika brand tractors came 3rd in line with year on year growth of 72 % by selling a total of 8,538 units in December, 2020. Market share for Global Tractors showed a growth of 2.5% i.e. 11.5 % in Dec’19 to 14 % in Dec’20.
The 4th and 5th spots were ensured by John Deere and Escorts. Strikingly, Escorts recorded the most elevated year on year growth in December 2020 by selling a total of 7,230 units, 90% more when compared to 3,806 units sold in December 2019 and was only 85 units shy of the fourth position secured by John Deere. Escorts additionally had the most elevated market share increase of 3.02 % in Dec'20 and now orders 11.91 % of the total sales.
The remainder of the manufacturers had a tremendous sales distinction when contrasted to the top 5 tractor manufacturers.
Show your support
Dear patron, thank you for being our reader. Readers like you are an inspiration for us to move Agri Journalism forward. We need your support to keep delivering quality Agri Journalism and reach the farmers and people in every corner of rural India.
Every contribution is valuable for our future.
Contribute NowDownload Krishi Jagran Mobile App for more updates on the Latest Agriculture News, Agriculture Quiz, Crop Calendar, Jobs in Agriculture, and more.