Mahindra and Sonalika continue to march forward to improve tractor retail business for January 2021
FADA reported approvals for the tractor retail trade for January 2021 with growth of over 11 percent. The reported data does not include AP, MP, LD, and TS numbers as they are not available on Vahan 4. Registration data reported on February 7, 2021 was compiled from 1,273 out of 1,480 RTOs.
Mahindra tractor sales are, as always, at the top of retail sales at 13,476 units. Sales growth is 4.24 percent after 12,928 units Market share (MS) of 22.18 percent.
Mahindra Swaraj’s sales are reported at 10,211 units with a growth of 11.93 percent. Volume increased by almost 1,100 units versus 9,123 units for MS, 16.81 percent. Sonalika continues its winning streak with 8,647 units. The growth is over 30 percent after 6,563 units with a volume increase of 2,084 units and a market share of 14.23 percent.
Eicher reported a decline in January 21
Escorts jumped 11.81 percent to pick up MS from 11.42 percent. Retail sales rose from 6,208 units to 6,941 units with a volume increase of 733 units. Tafe reports a slight decrease from 6,249 units to 6,230 units. John Deere gained ground with 7.77 percent MS. Retail sales rose from 4,246 units to 4,721 units with a volume increase of almost 500 units.
Tractor Retail Sales Jan 2021 vs Jan 2020 (YoY) – FADA
The Eicher retail stores fell by 1.44 percent. Retail sales decreased from 3,887 units to 3,831 units. MS was 6.31 percent. CNH Industrial grew 22.54 percent. Retail increased to 2,457 units, down from just over 2,000 units on a 452 unit gain. Kubota performed well with over 1,000 units out of 814 units.
Big green stripes on January 21st
VST increased from 472 units to 517 units. Force Motors increased from 280 units by 29.36 percent to 5.36 percent. The captain reported retail stores of 184 units, a decrease of 5.64 percent from 168 units. Indo Farm reported 154 registrations from 168 units.
Others accounted for 2,057 units, an increase of 34.97 percent compared to 1,524 units with a volume increase of slightly more than 500 units. Overall, registrations for the tractor retail trade rose by 11.14 percent to over 60,000 units. Sales rose from 54,662 units to 60,754 units with an increase in volume of 6,092 units.
Retail sales for tractors January 2021 versus December 2020 (MoM) – FADA
While year-over-year growth has been the norm with the exception of a few, monthly sales are largely in the red. VST reported growth, as did cumulative “others”. The month-on-month decrease is given as 12.08 percent, as the volume decreased from 69,105 units by 8,351 units.
While the year wasn’t a great year for the larger automotive sector, tractor sales were more or less in the green. Given the January 2021 numbers, tractors’ sales growth in the remaining two months would help the industry have a strong fiscal year.