Tractor Sales Q2 FY 2024-25: Mahindra Tractors Leads, 2,12,043 Units, Down 6.1% YoY
Every tractor registered in India over Q2 FY 2024-25 — July 2024 to September 2024. Q2 of the financial year, July to September. Month-by-month volumes, the manufacturer leaderboard, how the segment moved against the rest of the market, and the same window in every earlier year on record.
Tractor sales month by month, Q2 FY 2024-25
India's tractor market registered 2,12,043 tractors in Q2 FY 2024-25. Volumes fell back 6.1% against the 2,25,890 logged over the same 3 months of Q2 FY 2023-24.
July was the strongest month of the period at 81,995 tractors and September the quietest at 63,599, an average of 70,681 a month. 1 of those 3 months grew on the same month a year earlier.
July sits inside the monsoon, historically a soft month for urban showroom footfall and a strong one for farm equipment.
Q2 FY 2024-25 ran from July 2024 to September 2024 and is closed. Every month in the table below is final, and every comparison on this page is against the matching month of Q2 FY 2023-24.
Tractors accounted for 3.6% of everything registered in India over the period, down from 3.9% in Q2 FY 2023-24. The whole market ran to 59,56,495 vehicles over the same window, up 3.1% year on year.
Tractor registrations by month — Q2 FY 2024-25 vs Q2 FY 2023-24
Vahan retail registrations, each month set against the same month a year earlier.
Every completed month of Q2 FY 2024-25, with the matching month of Q2 FY 2023-24 beside it.
| Month | Q2 FY 2024-25 units | Q2 FY 2023-24 units | YoY | Share of period |
|---|---|---|---|---|
| July 2024 | 81,995 | 93,391 | −12.2% | 38.7% |
| August 2024 | 66,449 | 76,031 | −12.6% | 31.3% |
| September 2024 | 63,599 | 56,468 | +12.6% | 30.0% |
Each month links through to its own full report.
Which manufacturer sold the most, Q2 FY 2024-25
Mahindra Tractors led the period with 49,351 registrations, down 4.0% on Q2 FY 2023-24. Swaraj (M&M) follows on 39,496, 9,855 behind — a gap of 1.25x.
The fastest riser in the top 15 was Action Construction Equipment, up 99.3% to 584, while Captain Tractors was down 68.5% at 772.
Volumes here are registrations inside the segment only, counted with Vahan's own vehicle-class filter, so each is the manufacturer's tractor volume over Q2 FY 2024-25. Companies that file electric models under a maker of their own appear as separate rows.
Top manufacturers by registrations — Q2 FY 2024-25
Registrations inside the segment (tractors only).
Exact registrations over July 2024 to September 2024, with the change against Q2 FY 2023-24.
| # | Manufacturer | Q2 FY 2024-25 units | Share of tractors | vs Q2 FY 2023-24 |
|---|---|---|---|---|
| 1 | Mahindra Tractors | 49,351 | 23.27% | −4.0% |
| 2 | Swaraj (M&M) | 39,496 | 18.63% | −0.3% |
| 3 | Sonalika (ITL) | 28,311 | 13.35% | +4.2% |
| 4 | TAFE | 22,476 | 10.60% | −22.7% |
| 5 | Escorts Kubota | 20,453 | 9.65% | −6.1% |
| 6 | John Deere | 16,208 | 7.64% | +15.0% |
| 7 | Eicher (VECV) | 13,674 | 6.45% | −13.7% |
| 8 | CNH Industrial | 8,123 | 3.83% | +7.8% |
| 9 | Kubota | 4,063 | 1.92% | −11.3% |
| 10 | Mahindra | 2,828 | 1.33% | −11.2% |
| 11 | John Deere | 2,251 | 1.06% | −3.6% |
| 12 | Captain Tractors | 772 | 0.36% | −68.5% |
| 13 | Gromax Agri Equipment | 759 | 0.36% | −1.7% |
| 14 | V.S.T. Tillers Tractors | 635 | 0.30% | −58.9% |
| 15 | Action Construction Equipment | 584 | 0.28% | +99.3% |
Tractor sales against the rest of the market
Set against the rest of the market, tractors lagged the national picture over Q2 FY 2024-25: −6.1% against +3.1% for every vehicle registered in India.
The table covers every segment Vahan reports over the same 3-month window, so the comparison is like for like — the same months, the same source, on both sides.
Tractor share of the Indian market, month by month
Tractors as a percentage of every vehicle registered that month.
Exact segment volumes over July 2024 to September 2024.
| Segment | Q2 FY 2024-25 units | Share | vs Q2 FY 2023-24 |
|---|---|---|---|
| Two-Wheelers | 41,74,440 | 70.08% | +5.3% |
| Cars & UVs | 8,84,713 | 14.85% | −3.1% |
| Three-Wheelers | 3,34,585 | 5.62% | +4.6% |
| Tractors | 2,12,043 | 3.56% | −6.1% |
| Goods Carriers | 1,94,717 | 3.27% | −5.6% |
| Taxis & Cabs | 83,480 | 1.40% | +10.6% |
| Other classes | 42,066 | 0.71% | −13.7% |
| Buses | 30,451 | 0.51% | +18.9% |
What tractors run on
Vahan splits a segment by fuel only across a whole calendar year, so this table covers full-year 2024 rather than Q2 FY 2024-25 alone — it is exact for that window.
Diesel accounts for 99.98% of tractor registrations over full-year 2024, with battery-electric at 0.0%.
Tractor registrations by fuel — full-year 2024
The full-year 2024 mix.
| Fuel | 2024 units | Share | vs full-year 2023 |
|---|---|---|---|
| Diesel | 9,10,765 | 99.98% | 0.00pp |
| Petrol | 115 | 0.01% | 0.00pp |
| Other | 49 | 0.01% | 0.00pp |
| Electric | 20 | 0.00% | 0.00pp |
| CNG / LPG | 2 | 0.00% | 0.00pp |
Every Q2 on record
Across the 3 completed windows in our Vahan record, tractor registrations went from 2,12,043 in Q2 FY 2024-25 to 2,84,878 in Q2 FY 2026-27, up 34.3% over the stretch.
Tractor registrations by quarter
* window still in progress.
| Period | Months | Units | YoY |
|---|---|---|---|
| Q2 FY 2026-27 | 3 | 2,84,878 | +17.5% |
| Q2 FY 2025-26 | 3 | 2,42,415 | +14.3% |
| Q2 FY 2024-25 | 3 | 2,12,043 | −6.1% |
Each row compares only the months that window holds, so a part period is never set against a full one.
Frequently asked questions
How many tractors were sold in India in Q2 FY 2024-25?
What period does Q2 FY 2024-25 cover?
Which manufacturer sold the most tractors in Q2 FY 2024-25?
Which was the strongest month for tractor sales in Q2 FY 2024-25?
What share of the Indian market were tractors in Q2 FY 2024-25?
Which quarter had the highest tractor sales?
Are these retail sales or factory dispatches?
Tractor sales, other periods
More from the reports desk
Source. Every figure is a vehicle registration, taken daily from the Ministry of Road Transport & Highways' Vahan 4 dashboard (vahan.parivahan.gov.in) — the same source FADA and the industry use for retail data. Registrations are not the wholesale dispatch numbers manufacturers announce each month. "EV" means battery electric (Vahan fuels PURE EV and ELECTRIC(BOV)); hybrids are counted separately. Information only, not investment advice.
Using these numbers? Cite "Flash Finance (Vahan data)" with a link to this page. This report's chart card is free to republish with the same credit.
