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Tractor sales decline by more than 10% in Q4/FY2023-24

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By RACE Innovations Pvt Ltd - 21st June 2024

India - Tractor sales fell by 11.8% during the fourth quarter of FY 2023 (ending March 31, 2024) to register 20,061 units compared with 22,738 units in the same quarter of the previous year (FY 2022). Tractor production decreased by 11.9% overall from 22,554 units to 19,864 units and export sales declined by 30.2% to 97 units.

The light-weight tractor (26.4 tons < GVW ≤ 40 tons) segment saw sales decrease by 16.4% to 2,039 units in the Q4 of FY 2023 from 2,439 units in the Q4 of FY 2022. Export sales contracted by 75.5% to record just 13 units and production decreased by 2.1% to 963 units.

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