While the Tractor Wholesales grew an impressive 31.1% YoY in Feb’21 (source); the Industry registrations recorded a growth of 18.9%. Tractors was the category to register the highest YoY growth in February 2021 and continued its positive run.
India’s farm sector remained resilient, clocking a 3.9% growth in Gross Value Added (GVA) to the economy, after recording a 3.3% and 3% rise in the first two quarters. Tractor registrations will hence continue to outperform overall registrations in the near term.
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Mahindra + Swaraj commanded a Market Share of 38.6% in February 2021 and was the No.1 Tractor OEM in terms of Retail volumes for Feb’21. Do note that M&M + Swaraj lost a collective -3.33% Market Share and was the highest in the Industry.
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Sonalika outsold the likes of Escorts & TAFE in Feb’21 and recorded a Market Share of 13.76% in February 2021 which has been the highest in the Industry. Sonalika has been extremely consistent in the past few months and the sales growth is a testimony. It has also widened its gap in terms of volumes from Escorts & TAFE.
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Escorts registered sales growth too and grew 23.38% in Feb 2021 v/s Feb 2020. It saw its market share increase by 0.42% YoY.
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TAFE ranked fifth in the list and recorded a YoY registrations increase of 30.2%.
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John Deere is stronger in the higher HP Tractor category and its sales recorded a growth of 22.5% YoY. It was also able to increase its Market Share by 0.25%.
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The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
