Tractor wholesales drop 10-12% in Oct despite festive retail surge

Tractor wholesales fell 10-12% year-on-year for the second straight month in October, even as retail registrations rose 17% during the festive season, per Jefferies. M&M's domestic tractor sales dropped 13% to 62,626 units. Jefferies attributed the wholesale decline to a high base and weakening demand, flagging a growing gap between retail and wholesale trends.