Tractor Sales

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

Mahindra & Mahindra (M&M) on Friday reported a 14 per cent rise in its profit after tax (PAT) to Rs 1,528 crore for the third quarter ended December 2022, driven by robust sales. The Mumbai-based automaker had reported a net profit of Rs 1,335 crore for the October-December period of the previous fiscal. Its revenue surged 41 per cent to Rs 21,654 crore for the third quarter compared to Rs 15,349 crore in the year-ago period. The company said it has sold a total of 1,76,094 vehicles during the period under review, up 45 per cent from 1,21,167 units a year ago. Tractor sales rose 14 per cent to 1,04,850 units in the third quarter against 91,769 units in the same quarter of the last fiscal. "We have had another robust quarter led by the robust performance of our Auto division. Our farm division also reported healthy growth with increased market share. Our capital allocation actions are continuing to show results and we remain committed to our journey of growth and returns," ...

Many non-official parameters do indicate a rebound, but high inflation seems to hitting hard, eroding all gains

Mahindra & Mahindra Ltd on Friday reported a 7 per cent year-on-year decline in tractor sales to 40,331 units in September. The tractor manufacturer had sold a total of 43,386 units for the same period last year, a release said. The domestic sales in the previous month declined 8 per cent to 39,053 units, as against 42,361 units a year ago, Mahindra said. Exports in September, however, rose 25 per cent to 1,278 units as compared to 1,025 units in the same period last year. With initial crop production estimates indicating highest ever Kharif Crop, coupled with the upcoming festive season, we are optimistic of strong demand in the coming months. In the exports market, we have sold 1,278 tractors with a growth of 25 per cent over last year, said Hemant Sikka, President for Farm Equipment Sector at M&M Ltd. Strong revival in rainfall during September brought cheers to the farming community, with the entire rainfall deficit wiped off by September-end and monsoon achieving normal ..

Escorts Ltd is confident of clocking a double-digit growth in tractor sales in 2021-22, having registered good volume in the first quarter, according to a senior company official.

Expected to touch record high in FY22 but growth to moderate

Earnings, however, aren't strictly comparable due to last year's low base. Businesses had come to a halt in the June quarter of 2020 due to Covid-19-induced national lockdown

Mahindra & Mahindra Ltd on Thursday reported total tractor sales of 48,222 units in June, recovering from the disruptions induced by the second wave of the coronavirus pandemic. The company had sold a total of 36,544 tractors in June 2020, when sales were impacted by the nationwide lockdown imposed to curb the spread of the coronavirus pandemic although easing of restrictions had started by then. It had sold 24,184 units in May 2021, during the peak of the second wave of the pandemic. Domestic sales last month were at 46,875 units. It was at 35,844 units in June 2020, M&M said in a statement. Exports in June stood at 1,347 units. The company had exported 700 units in the same month last year. Commenting on the performance, Mahindra & Mahindra Ltd. President - Farm Equipment Sector Hemant Sikka said, "the sharp fall in COVID-19 cases and resultant easing of related restrictions, arrival of timely monsoon, increase in MSP rates for key kharif crops and continued strong ...

Farm equipment manufacturer Escorts Agri Machinery (EAM) on Thursday said its tractor sales stood at 12,533 units for June.

In the domestic market, passenger vehicle makers are in a better position as compared to two wheeler companies

Manufacturers think the impact of Covid-19's ravages on rural India will abate if seasonal rains are good.

While growth in tractors is slowing down after robust growth in FY21, M&M's auto segment is expected to see strong momentum in both LCVs and SUVs, brokerage MOSL said

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

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

M&M expects the industry to log around 20 per cent YoY volume growth in the tractor segment for FY21E

Ace investor Rakesh Jhunjhunwala owns 4.75 per cent stake in Escorts as of December 2020 quarter

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

Nifty Auto index has jumped 8 per cent on a year-to-date basis in 2021

Farm equipment manufacturer Escorts Agri Machinery on Friday reported an 88 per cent jump in tractor sales at 7,733 units in December 2020

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