Mahindra’s Farm Equipment Sector records sale of 42,034 tractors in September 2023
Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a prominent part of the Mahindra Group, has unveiled its tractor sales figures for September 2023.
In the domestic market, Mahindra’s tractor sales for September 2023 totaled 42,034 units, showing a decline from the 47,100 units sold during the same month in 2022.
When considering both domestic and export sales, the total tractor sales for September 2023 reached 43,210 units, as compared to the 48,713 units achieved in the corresponding period of the previous year. Exports for the month accounted for 1,176 units.
Hemant Sikka, President of the Farm Equipment Sector at Mahindra & Mahindra Ltd., provided insights into the performance, stating, “During September 2023, we successfully sold 42,034 tractors in the domestic market. The smart recovery in Kharif sowing, with more than 110 million hectares cultivated, combined with the onset of the festive season, is anticipated to boost positive sentiments among the farming community. Normal rainfall in September has contributed to achieving near-normal monsoon levels, which will facilitate Rabi sowing, particularly in the Central, Northern, and Western regions of the country. In the exports market, we have sold 1,176 tractors.”
Reviewing the performance of Mahindra’s Farm Equipment Sector, September 2023 witnessed a decline of 11% in domestic tractor sales compared to the previous year. The year-to-date figures for 2023 indicated a 2% reduction in domestic sales compared to the same period in 2022.
Exports for September 2023 experienced a 27% decrease compared to the previous year, and the year-to-date export figures for 2023 showed a substantial 35% decline compared to the previous fiscal year.
In conclusion, Mahindra & Mahindra Ltd.’s Farm Equipment Sector has provided an update on its tractor sales for September 2023, highlighting both domestic and export figures. Despite facing challenges, the sector remains committed to serving the farming community and contributing to India’s agricultural growth.