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However, John Deere continued to a report decline (down 6% yoy) in Nov 2012 as well. Domestic sales growth was boosted by M&M (including Swaraj), up 22% yoy, TAFE (up 23% yoy) and Escorts (up 10% yoy).
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M&M (including Swaraj) reported an impressive growth of 17% yoy.ĭomestic sales in Nov 2012 grew 19% yoy on a relatively low base to 47,309 units, as YTDFY13 sales remained in negative territory, down 1% to 368,937 units. Sales were up yoy by 10% for M&M, 9% for TAFE, 12% for Sonalika, 6% for Escorts and 3% for New Holland. John Deere was the only company to report a yoy decline in sales, down 3% yoy, apart from other very small players. The growth in industry sales for Nov 2012 was led by Swaraj, up 35% yoy to 6,406 units, and HMT, up 78% yoy, albeit on a very low base, to 270 units. We expect tractor sales to remain under pressure and decline 3% in FY13, due to overall pressure on the agri segment and weak sentiments. Although the tractor industry reported an impressive growth of 10% yoy in Nov 2012, we believe it was driven mainly by the festive season and it will be very difficult for the growth to sustain. Tractor manufacturers expect delayed rains to result in good Rabi crop, which will help them achieve higher sales in H2 over H1. The performance of these regions resulted in sales of the tractor industry declining 2% in YTDFY13. Moreover, the North Indian market is not yet showing any signs of a pick-up in tractor sales. India's southern and western markets, which had reported a high growth last year, have been recording a decline this year. Domestic sales contributed 47,309 units, up 19% yoy. Industry sales were up 10.3% yoy to 51,241 units, albeit on a small base, driven by a strong growth by companies like Swaraj. If you believe your post or comment was removed in error, check the rules and include a link in a polite message to the moderators.The festive season boosted tractor sales in Nov 2012, which saw a yoy growth after three consecutive months of decline. Search the subreddit and resources before making a post. If you're new to pr oducing, read the Newbie FAQ.
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