India Tractor Sales Hit Record 10 Lakh in FY2026

India's tractor industry closed FY2025–26 with record volumes, as wholesale sales jumped 24 per cent year-on-year to 1,12,468 units in March 2026, driven by favourable harvesting conditions, the full Navratri purchasing window falling within the month, and better access to credit for farmers. According to data from the Tractor and Mechanization Association, domestic dispatches rising 29 per cent to 1,03,193 units in March, while exports fell 14 per cent year-on-year to 9,275 units. 

Production hit 1,09,967 units, up 28.6 per cent from 85,500 units in the same month a year earlier.

Mahindra & Mahindra's Farm Equipment Business, the country's largest tractor maker, reported domestic dispatches up 33 per cent to 43,404 units in March, compared with 32,582 units a year ago, though exports dropped 31 per cent to 1,632 units.

"A significant part of this high growth was driven by the full Navratri season falling entirely in March '26, unlike last year when it was split between March and April. We ended FY26 with highest-ever sales of 5,05,930 units, registering growth of 24%," Veejay Nakra, President of the Farm Equipment Business was quoted as saying by Autocar Professional.

Sonalika Tractors delivered one of the month's standout performances, with domestic sales climbing 33 per cent year-on-year to 16,450 units -- the brand's highest-ever March volumes. The company credited robust rabi sowing, healthy reservoir levels and stronger rural cash flows, amplified by the full Navratri season.

Escorts Kubota reported total sales of 12,119 units in March, up 6.6 per cent year-on-year. Domestic volumes rose 7.5 per cent to 11,582 units, while exports slipped 10.4 per cent to 537 units. The company flagged that harvesting activity had seen some delays due to recent rainfall, but said the overall rabi outlook remained positive. It also cautioned that geopolitical developments could pose supply-side risks, particularly around fertiliser availability ahead of the kharif season.

On the retail side, growth was more measured. FADA data showed tractor retail sales rising 10.87 per cent year-on-year to 82,080 units in March. For the full financial year, both wholesale and retail volumes crossed the 10-lakh mark for the first time. Domestic wholesale dispatches reached 11,60,231 units, up 23.5 per cent, while retail sales came in at 10,50,077 units, nearly 19 per cent ahead of FY25. Exports for the year rose around 7 per cent to 1,05,593 units.

In terms of retail market share, the competitive landscape remained heavily concentrated at the top. Mahindra & Mahindra's tractor operations -- covering both the Mahindra and Swaraj brands -- held a combined 42.57 per cent share with 4,46,948 units. The Mahindra brand alone accounted for 23.81 per cent (2,49,973 units), with Swaraj contributing 18.76 per cent (1,96,975 units).

Sonalika held third place with a 12.76 per cent share (1,34,030 units), edging down from 13.04 per cent, while TAFE nudged up to 11.27 per cent (1,18,326 units) from 11.24 per cent.

The most notable shift among the top five came from Escorts Kubota, which climbed from 9.93 per cent to 10.90 per cent share on the back of 1,14,468 units -- volume growth of 30.6 per cent. The performance points to the Kubota partnership beginning to deliver results domestically, with technology transfer, upgraded products and a broader dealer network all contributing to the acceleration.

John Deere maintained its position with a 7.63 per cent share (80,086 units), Eicher Tractors slipped marginally to 6.21 per cent (65,215 units), and CNH Industrial gained ground, lifting its share to 4.49 per cent (47,122 units).