Tractors Sales

CRISIL analysis: Automobile sector faces mixed fortunes amid rural revival

Rural demand had been subdued in the past few financial years owing to low farm profitability because of erratic monsoon and the outsized impact of the pandemic on rural incomes

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

M&M Q2 Preview: Operating profit may climb up to 31% YoY; revenue eyed

Brokerages anticipate robust revenue growth driven by improved volumes and realisations, with mixed expectations on margin performance across segments

Auto Bet: Bajaj, M&M, Escorts Kubota may lead August sales, says Nuvama

Within the 2W segment, analysts believe, mass-market original equipment manufacturers (OEMs) such as Honda, Hero Moto Corp, Bajaj Auto, and TVS are anticipated to perform well.

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

Force Motors to shut down its agricultural tractors business from March 31

In financial year 2023, the sale of agricultural tractors accounted for 3.66% of the company's total revenue, Force Motors said

Tractor sales drop by 4% in FY24, signalling rural economic trouble

Maharashtra recorded a 33% drop, Karnataka 21%, and Telangana 36% in tractor sales. This decline can be attributed to erratic weather conditions and insufficient rainfall

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

Auto sector to take a V-turn in FY25 on election winds, new models

Luxury car segment will continue to rise its EV penetration. However, the tipping point is still a few years away. Customers require convincing on ownership benefits and hassle-free experience

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

Swaraj unveils new range of tractors in 40-50 horsepower category

Hemant Sikka, president of the Farm Equipment Sector at Mahindra & Mahindra mentioned that even though there was a rainfall deficit in August this year, tractor sales in India went up year-on-year

M&M rolls out new wheel harvester under Swaraj, targets 15-20% mkt share

Mahindra & Mahindra Ltd (M&M Ltd) on Wednesday rolled out a new wheel harvester under the Swaraj brand in the domestic market as it looks to tap aggressively the farm mechanisation market in the country. With its latest offering, the brand is aiming for a 15-20 per cent market share in the wheel harvester segment in the long-term, Harish Chavan, Chief Executive Officer at Swaraj Division, said. Manufactured at the company's new farm machinery facility at Pithampur near Indore in Madhya Pradesh, the new 'Swaraj 8200 Wheel Harvester' will be available from the upcoming crop season for the customers through its dealerships pan-India, he said. "The mechanisation in the harvesting space (in the country) is still picking up. We want to give shape to it and that is the reason we want to participate now aggressively as we are participating in tractor segment," Chavan told PTI. He said that with the tractor industry growth reaching an all-time high, the agri mechanisation sector is ...

M&M tractor logs 6% growth in total sales at 44,478 units in June

Mahindra & Mahindra Ltd on Monday reported a 6 per cent growth in total tractor sales at 44,478 units in June, as compared to the same month last year. The company had sold 41,848 units in June 2022, Mahindra & Mahindra (M&M) said in a statement. Domestic tractor sales were at 43,364 units last month, as against 39,825 units in the year-ago period, a growth of 9 per cent, it added. Exports, however, declined 45 per cent at 1,114 units, as compared to 2,023 units in the same month last year, the company said. M&M Farm Equipment Sector President, Hemant Sikka said though the arrival of South-West monsoon got delayed due to cyclonic disturbances, it has progressed in the last week of June and has now covered the entire country, bringing huge relief to the farmers and aiding in Kharif sowing. "As on date, aggregate sowing acreage of Kharif crops is ahead of last year's acreage and is progressing at a fast pace. "In addition, record rabi crops, government support with ...

Rs 20-trn agri credit outlay to boost tractor manufacturers, PSBs: Analysts

However, fertiliser stocks may not see another upsurge as they have have more-than-doubled in the last six months, they said

Brokerages positive about Escorts Kubota's medium-term growth plans

Near-term worries for the stock include volume uncertainty, premium valuations

Domestic passenger vehicle sales likely to rise over 30% in Nov: Report

Domestic passenger vehicle sales are expected to rise over 30-per cent year-on-year in November, driven by large order book and higher vehicle production while the commercial vehicle segment sales volume could grow in double digits during the month, a report said on Friday. Tractors volumes, however, are likely to remain muted on inventory destocking with dealers, brokerage firm Emkay Global Financial Services said in a report. It also said that vehicle discounts have reduced on a sequential basis and remain significantly lower than the elevated levels seen in the past. Automobile makers in the country are set to publish vehicle sales data for November on December 1. The PV segment is likely to record higher volumes on account of the large order book while the CV and two-wheelers are likely to maintain their positive growth momentum in November, Emkay Global said. Projecting over 30 per cent growth for the passenger vehicle segment in the current month over the same month last ye

On a bumpy ride: Demand for low-cost tractors hits margins in June quarter

This is despite volumes touching a record high

Escorts Kubota slips to a 9-mth low, down 27% from record high hit in April

The stock traded lower for the third straight day has fallen 9 per cent during this period; it aslo turned ex-dividend for Rs 7 per share on Thursday.

Bounty for tractor makers as farmers benefit from open-market sale of wheat

Farmers used the proceeds from the windfall to purchase tractors, leading to a sharp 44 per cent spike year-on-year (YoY) in the first two months of the April-June quarter

Mahindra CIE surges 13% on stable operational performance in March quarter

In Q1, standalone EBITDA margin improved 310 basis points (bps) to 15.5 per cent from 12 per cent in Q4.