Industry & Economy
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HCV/LCV/Tractors
Tractor sales down 21% in November
Our Bureau
NEW DELHI, April 3
TRACTOR sales fell over 21 per cent year-on-year in November despite a turnaround in the agricultural sector, which is projected to grow at 5.7 per cent in 2001-02, according to the latest industrial data.
Tractor sales in November fell to 16,757 units as against 21,246 units sold in the same month of last year, data released on Wednesday by the Tractor Manufacturers Association (TMA) showed.
October sales were 17,486 tractors.
Sales so far in 2001-02 financial year (April-November) were 1,24,545 units, down 20.7 per cent compared with 1,57,077 tractors sold in April-November of 2000-01.
Dipping tractor sales in an agricultural market that has turned around and started to grow at a robust pace indicates that farm prices have not risen in tandem with the output, leaving farmers with little disposable income to buy tractors.
Mahindra and Mahindra continued to be the country's largest tractor maker, selling 39,940 tractors, accounting for 32.07 per cent of all tractors sold in the country. However, the company's sales were down 27.74 per cent year-on-year.
Punjab Tractors Ltd retained its position as the second largest maker of tractors selling 28,469 units in April-November and cornering a market share of 22.86 per cent.
It, however, gained three percentage points in its market share when compared with last year, the data showed.
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