Tractor Industry

Tractor sales may witness fertile H2; analysts expect 10-11% growth

The first half of the current financial has been flat in terms of wholesales - 472,079 units sold against 469,383 in H1FY24

Tractor industry festive sales may grow 8-10% in FY25: Escorts Kubota CFO

Tractor sales in the festive months, spanning from September to November, are expected to grow 8-10 per cent this year on the back of good monsoon lifting market sentiments, according to farm and construction equipment firm Escorts Kubota Ltd whole-time director and CFO Bharat Madan. After a soft first half, the tractor industry is expected to gain momentum in the second half of the ongoing fiscal, growing in double digits, leading to an overall mid-single digit growth for the full year, he told PTI. "If you look at (festive) season months, which we normally count as September to November, we expect there'll be a growth of 8 to 10 per cent this year over last year's season months," Madan said. He was responding to a query on how tractor sales in the industry fared during the festive season. The festive season months account for about 40-45 per cent of the industry sales, he said, adding that this year, "in terms of volume, the industry will be somewhere around 3,25,000 tractors" fo

Trouble in Paradise: Why are Tafe and AGCO fighting over Massey Ferguson?

Tafe and AGCO have been allies for 64 years. Tafe is the single largest shareholder in AGCO and AGCO holds nearly 21% in Tafe

Above normal monsoon to drive tractor sales; time to buy related stocks?

A normal monsoon, as predicted by the India Meteorological Department (IMD), is likely to boost farmers' income which may drive up tractor demand, analysts said

Tractor industry sales likely to dip 5% due to agri activities slowdown

The market leader in tractors in India, Mahindra and Mahindra, felt that the year would end with around 900,000 units in sales compared to 945,000 units sold in 2022-23

Plan to invest up to $50 mn in 2024, launch 105HP tractor in May: CNH India

Italian-American off-road construction and agriculture firm CNH is planning to invest up to USD 50 million in the farm machinery segment in India this year and launch a 105HP tractor in May, according to a top CNH India official. CNH, which produces and sells farm machinery and equipment under the New Holland brand, will focus on the compact range of tractors of below 30-40 horsepower (HP), besides targeting to sell 1,000 baler machines (used for managing stubble) this year. Currently, CNH India has a four per cent market share in the tractor business in India and has a considerable presence in the 45-50 HP range of tractors. Speaking to PTI, CNH India and SAARC Country Manager and Managing Director Narinder Mittal said there is a huge potential in India's agriculture sector, and the company intends to double its market share to 8 per cent in the next four years. "We plan to invest about USD 40-50 million in the current calendar year in the agriculture segment, including the progra

VST Tractors November sales: Total sales drop 19%, tractor sales down 46%

The company registered a rise in its YTD sales data until November 2023, which stood at 22,875 units, 6.9% more when compared to 21,393 units sold during the same period last year

Domestic tractor sales likely to pick up in the second half of 2023-24

Rating agency ICRA pointed out that the domestic tractor industry volumes remained healthy and represented a 12 percent YoY growth in FY2023, touching an all-time high of 9.45 lakh units

El Nino unlikely to dampen tractor industry volumes in a big way

Likely El Niño may water down sentiment but industry does not see huge downside in sales in FY24

Tractor sales growth to halve in FY24, operating margins to improve: CRISIL

However, softening prices of inputs such as steel and pig iron will provide a 100-200 basis points (bps) respite to the operating margin of tractor makers

Electric vehicle launch success key to further gains for M&M stock

SUV launches getting traction, weak rural demand a headwind for tractors

SUVs to tractors: M&M not taking foot off pedal, on recovery road

Favourable agri macros, improving SUV demand, and easing commodity prices augur well for automaker

After underperforming broader mkt, Escorts zooms back onto investors' radar

Its stock price has risen 13.4% this month, against 2.1% fall in BSE Auto index

Tractor sales set to hit speed bumps as pandemic reaches the hinterland

Sentiments have turned negative due to the persistent rise in cases; farmers are saving cash for health-related exigencies

Tractor sales rise by around 30% in February 2021 to 84,690 units

February 2021 sales were lower compared to January 2021 sales of 87,579 units and production of 96,020 units

Tractor sales rise 48% in January, demand expected to remain robust

According to the Federation of Automobile Dealers Associations, retail numbers for January inicated the only segment which was in green (11.14% growth) was tractors, while other segments were in red

Tractor makers sell 71,740 units in December; up 41 per cent year on year

However, month on month the sales dropped for the second month in a row, after reporting continued growth since April

Tractor sales up 48.34 per cent in Nov over last year but down MoM basis

Tractor sales have been growing on a monthly basis since April 2020, except in the month of August

Stable outlook for tractor industry, limited Covid impact on demand: Icra

In June, the industry recorded a 22 per cent growth in wholesale volumes and 10 per cent growth in retail volumes

Bucking pandemic slowdown: June tractor production highest since Jan 2019

Timely arrival of monsoon, record Rabi crop as well as government support for agri initiatives helped tractor sales grow in an otherwise dull auto market