Tractor may continue their downturn, witnessing a 20–25% year-on-year decline in retail sales, but the expectations of better sequential growth are the only positive.
Both M&M and Escorts experienced a decline in growth during the previous fiscal and have projected a recovery in the second half of the current fiscal. They are hoping for positive shifts from good monsoons, rural recovery, and budget support for their customers in July.
Notable decreases in states like Uttar Pradesh and Maharashtra, where the monsoon has not yet begun, are negative, and commentary on states like Karnataka, where demand has been subdued, will be key post-quarter-one results.
Mahindra has been strong in maintaining market share with timely launches and product acceptance for brands like Oja, while Escorts is expecting better performance in states like Maharashtra and Karnataka this year.
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June 30, 2024 at 01:52PM
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June Auto Sales Preview: Seasonal Weakness Expected With Select Outperformers - NDTV Profit
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