Monthly tractor sales crossed the 100,000 mark in September, the first time in 2020. Total tractor sales of 116,175 units have been reported for the months of September, excluding exports of 7,600 units. This is a 27 per cent increase of September 2019. This is only the third time when monthly tractor sales have crossed the 100,000 mark in the last three years. Previously, sales of 120,310 and 113,638 were reported in October 2018 and 2019 respectivel, according to the Tractor and Mechanisation Association,
Tractor sales continued their healthy run as Kharif sowing witnessed record progress in the area covered and a good Rabi season resulting in high disposable incomes, said Federation of Automobile Dealers Associations (FADA) President Vinkesh Gulati.
Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said that retail demand continued to be buoyant backed by a very good monsoon, higher kharif acreage and continued government support, including higher MSPs for key crops. "We are looking forward to a very robust demand for the festive season ahead".
Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the $19.4 billion Mahindra Group, domestic sales in September 2020 were at 42,361 units, as against 36,046 units during September 2019, an increase of around 18 per cent.
Escorts Ltd Agri Machinery Segment (EAM) in September 2020 sold 11,851 tractors, company's highest ever September sales and registering a growth of 9.2 percent against 10,855 tractors sold in September 2019.
The company said that the rural demand continues to remain positive led by lower base of last year, pent-up demand from Covid-19 related lockdowns, and fundamentally positive macroeconomic factors. Timely and widespread monsoon, record Rabi crop production, early Kharif sowing, and good availability of retail finance have helped drive positive farmer sentiment. While currently operating close to our peak capacity, we are trying to further ramp up production and supply to meet the excess demand. We remain optimistic for the coming festive season.
Sonalika Group reported 51.4% domestic growth, surpassing industry growth. Raman Mittal, Executive Director, Sonalika Group, said that the positive sentiments of farmers which has helped to continue the growth momentum and achieve new record highs month after month.
“We are buoyant about the upcoming festive season and expect the farmer’s sentiments to remain positive," he said.
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