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Tractors end FY21 with historic production, growth in sales, exports
April 13, 2021
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Outlook for the industry continues to be positive due to all-time high estimates of rabi production, strong rural cash flows
The tractor industry has reported historic production, highest-ever domestic volumes and a strong growth in exports in 2020-21.
With strong domestic demand on the back of robust rural economy and recovery in exports from the second quarter of FY21, industry achieved its highest-ever production at 9.65 lakh units in FY21 against 7.78 lakh units in FY20, according to the data provided by Tractor & Mechanisation Association (TMA).
“The healthy monsoon, government support to farmers both at the central and state level and focus on mechanisation to ensure large scale coverage even during the Covid time boded well for agricultural mechanisation. TMA is happy to contribute to the rural economy during the pandemic by keeping the service and distribution constantly based on
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December tractor sales zoomed in Punjab
January 26, 2021
The industry is bullish on the upcoming festival season×
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Tractor sales are usually subdued in November and December. But last year they soared, especially in Punjab and Haryana.
December witnessed a 43 per cent growth in tractor sales (61,249 units) with Punjab-based Sonalika Tractors’ sales zooming 72 per cent to 8,538 units, according to data from Tractor & Mechanisation Association. Escorts, whose tractors are popular in the North, saw sales soar 90 per cent to 7,230 units in December.
Industry analysts couldn’t explain the spike in December sales but tractor manufacturers put it down to a robust rural economy.
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