According to reports from ETAuto, all three manufacturers saw impressive year-over-year sales increases in June, mostly in domestic sales.
Mahindra reported a 10% increase last month in total tractor sales, moving 36,544 tractors compared to 33,094 in the same month last year. Domestic tractor sales were up 12%, with 35,844 sold last month compared to 31,879 in June 2019. Exports for the company declined sharply however at 700 units sold in the month, down 42% from 1,215 in the same month last year. Hemant Sikka, president - Farm Equipment Sector, Mahindra & Mahindra, said this was the second highest recorded June tractor sales the company had seen.
Escorts reported domestic sales up 22.8% in June, rising to 10,851 tractors from 8,960 in the same month last year. Exports, however, shrank 26.9% in June, having sold just 228 tractors compared to 312 in the same month last year. "The industry is expected to grow significantly due to pent-up demand from the lockdown period, better farmer sentiment due to good monsoon prediction reflected in better than normal monsoon crop sowing, better rural cash flows owing to record crop output and crop prices and reasonably good availability of retail finance," Escorts said.
Sonalika reported domestic tractor sales up 55% in June at 13,691 units, giving the manufacturer 15.4% market share in India. Speaking on the performance, Raman Mittal, executive director, Sonalika Group, said, “Beginning in the first quarter of this year, when the first ever lockdown was announced, we as a company put all our energy into avoiding a negative impact to our operations. Today, the entire team is feeling proud that we have not just achieved our goal, but also have registered an overall growth of 5% in in the first quarter, which is the highest in the industry."