Domestic wholesale volumes likely to report strong growth in FY2026: Industry volumes have grown by 22% in 10M FY2026, aided by strong demand momentum over the past few months on the back of healthy farm cash flows and improved affordability (post the GST rate cuts). 

The industry growth is expected to moderate to 1-4% in FY2027 on a high base, as industry domestic volumes are estimated to reach all-time high of around 11.5 lakh in FY2026.

Monthly wholesale tractor volumes (domestic)