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Demand for India's heavier weight tractor units boost sector sales in FY 2023-24

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By RACE Innovations Pvt Ltd - 28th June 2024

India - Tractor sales in FY 2023 (financial year ending March 31, 2024) increased by 19.0% to 69,089 units compared with 58,072 units in the previous year (FY 2022). Tractor production increased by 20.4% from 58,231 units to 70,127 units, but exports fell by 40.4% to 293 (492).

Demand for lighter weight tractor units (31 tons < GVW ≤ 40 tons) slowed slightly in FY 2023 by 4.8% to 6,091 units in FY 2023 from 6,399 units in the previous year. Production of 31 tons < GVW ≤ 40 tons tractors increased by 33.3% from 2,345to 3,126, while exports declined by 82%.

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