Indian tractor segment resurgent in first nine month of FY 2023-24
By RACE Innovations Pvt Ltd - 15th March 2024
India – Total haulage tractor sales increased by 38.8% in the first three quarters (April to December) of fiscal year (FY) 2023-24 to register 49,028 units compared with 35,334 units in the same period of the previous fiscal year (2022-23). Tractor production was also up and by 40.9% at 50,263 units compared with 35,677, but exports fell by 44.5%.
Light-weight tractor (26.4 tons < GVW ≤ 40 tons) segment sales improved by 2.3% to 4,052 units in the first three-quarters of 2023-24 from 3,960 units in the same period of 2022-23. Production increased by 58.9% to 2,163 units, but still representing only half the numbers sold during the period.
