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Tractor sales are expected to maintain healthy traction during the upcoming financial year on the back of high agricultural growth as well as rural infra push.Besides, easy availability of finance and higher rabi acreage will support tractors .
Tractors sales rose nearly 48 per cent in January 2021 to 87,579 units, including 9,234 which were exported, from 59,367 units in January 2020. Month on month, sales increased after two months of fall. Demand was driven by expansion in rabi acreage, high reservoir levels and higher liquidity in the hands of farmers, among others. While every segment of the auto sector felt the pressure due to the Coronavirus (Covid-19) pandemic, the tractor segment was the first one to revive and it continues to be the fastest growing in the auto segment. According to the Federation of Automobile Dealers Associations, retail numbers for the month of January inicated that the only segment which was in green (11.14% growth) was tractors, while other segments were in red.
After showing a one-time year-on-year growth in December 2020, retail auto sales have slipped back into the negative zone during the month of January 2021.
Dealer inventory for passenger vehicles continued to fall and came down in the range of 10-15 days, two-wheeler inventory stayed put at 30-35 days. - Overdrive