Tractor Sales Q4 FY 2025-26: Mahindra Tractors Leads, 2,91,424 Units, Up 23.5% YoY
Every tractor registered in India over Q4 FY 2025-26 — January 2026 to March 2026. Q4 of the financial year, January to March. 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, Q4 FY 2025-26
India's tractor market registered 2,91,424 tractors in Q4 FY 2025-26. Volumes rose sharply 23.5% against the 2,35,878 logged over the same 3 months of Q4 FY 2024-25.
January was the strongest month of the period at 1,15,746 tractors and March the quietest at 84,352, an average of 97,141 a month. Every one of those 3 months grew on the same month a year earlier.
January carries the new-year registration rush — buyers who took delivery in late December often register in the first week.
Q4 FY 2025-26 ran from January 2026 to March 2026 and is closed. Every month in the table below is final, and every comparison on this page is against the matching month of Q4 FY 2024-25.
Tractors accounted for 3.6% of everything registered in India over the period, up from 3.6% in Q4 FY 2024-25. The whole market ran to 81,93,699 vehicles over the same window, up 23.4% year on year.
Tractor registrations by month — Q4 FY 2025-26 vs Q4 FY 2024-25
Vahan retail registrations, each month set against the same month a year earlier.
Every completed month of Q4 FY 2025-26, with the matching month of Q4 FY 2024-25 beside it.
| Month | Q4 FY 2025-26 units | Q4 FY 2024-25 units | YoY | Share of period |
|---|---|---|---|---|
| January 2026 | 1,15,746 | 94,397 | +22.6% | 39.7% |
| February 2026 | 91,326 | 66,673 | +37.0% | 31.3% |
| March 2026 | 84,352 | 74,808 | +12.8% | 28.9% |
Each month links through to its own full report.
Which manufacturer sold the most, Q4 FY 2025-26
Mahindra Tractors led the period with 67,226 registrations, up 21.8% on Q4 FY 2024-25. Swaraj (M&M) follows on 54,919, 12,307 behind — a gap of 1.22x.
The fastest riser in the top 15 was Swaraj Automotives, up 989.7% to 632, while Kubota was down 82.9% at 670.
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 Q4 FY 2025-26. Companies that file electric models under a maker of their own appear as separate rows.
Top manufacturers by registrations — Q4 FY 2025-26
Registrations inside the segment (tractors only).
Exact registrations over January 2026 to March 2026, with the change against Q4 FY 2024-25.
| # | Manufacturer | Q4 FY 2025-26 units | Share of tractors | vs Q4 FY 2024-25 |
|---|---|---|---|---|
| 1 | Mahindra Tractors | 67,226 | 23.07% | +21.8% |
| 2 | Swaraj (M&M) | 54,919 | 18.85% | +23.6% |
| 3 | Sonalika (ITL) | 38,392 | 13.17% | +25.3% |
| 4 | Escorts Kubota | 31,383 | 10.77% | +34.1% |
| 5 | TAFE | 31,205 | 10.71% | +26.1% |
| 6 | John Deere | 20,654 | 7.09% | +19.7% |
| 7 | Eicher (VECV) | 18,675 | 6.41% | +24.5% |
| 8 | CNH Industrial | 13,689 | 4.70% | +39.9% |
| 9 | Mahindra | 4,029 | 1.38% | +22.8% |
| 10 | John Deere | 3,747 | 1.29% | +31.1% |
| 11 | Gromax Agri Equipment | 1,565 | 0.54% | +55.3% |
| 12 | V.S.T. Tillers Tractors | 909 | 0.31% | +14.2% |
| 13 | Indo Farm | 700 | 0.24% | +47.1% |
| 14 | Kubota | 670 | 0.23% | −82.9% |
| 15 | Swaraj Automotives | 632 | 0.22% | +989.7% |
Tractor sales against the rest of the market
Set against the rest of the market, tractors outgrew the national picture over Q4 FY 2025-26: +23.5% against +23.4% 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 January 2026 to March 2026.
| Segment | Q4 FY 2025-26 units | Share | vs Q4 FY 2024-25 |
|---|---|---|---|
| Two-Wheelers | 57,18,501 | 69.79% | +25.0% |
| Cars & UVs | 13,17,661 | 16.08% | +20.4% |
| Three-Wheelers | 3,63,648 | 4.44% | +17.4% |
| Goods Carriers | 2,95,592 | 3.61% | +22.9% |
| Tractors | 2,91,424 | 3.56% | +23.5% |
| Taxis & Cabs | 1,10,020 | 1.34% | +20.6% |
| Other classes | 69,469 | 0.85% | +0.6% |
| Buses | 27,384 | 0.33% | −4.8% |
What tractors run on
Vahan splits a segment by fuel only across a whole calendar year, so this table covers 2026 year to date rather than Q4 FY 2025-26 alone — it is exact for that window.
Diesel accounts for 99.96% of tractor registrations over 2026 year to date, with battery-electric at 0.0%.
Tractor registrations by fuel — 2026 year to date
The 2026 year to date mix.
| Fuel | 2026 units | Share | vs full-year 2025 |
|---|---|---|---|
| Diesel | 8,76,696 | 99.96% | 0.00pp |
| Electric | 244 | 0.03% | +0.01pp |
| Petrol | 37 | 0.00% | 0.00pp |
| Other | 35 | 0.00% | 0.00pp |
Every Q4 on record
Across the 3 completed windows in our Vahan record, tractor registrations went from 2,47,916 in Q4 FY 2023-24 to 2,91,424 in Q4 FY 2025-26, up 17.5% over the stretch.
Tractor registrations by quarter
* window still in progress.
| Period | Months | Units | YoY |
|---|---|---|---|
| Q4 FY 2025-26 | 3 | 2,91,424 | +23.5% |
| Q4 FY 2024-25 | 3 | 2,35,878 | −4.9% |
| Q4 FY 2023-24 | 3 | 2,47,916 | +8.6% |
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 Q4 FY 2025-26?
What period does Q4 FY 2025-26 cover?
Which manufacturer sold the most tractors in Q4 FY 2025-26?
Which was the strongest month for tractor sales in Q4 FY 2025-26?
What share of the Indian market were tractors in Q4 FY 2025-26?
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.
