Mumbai: With a 12 per cent growth, Mahindra & Mahindra’s Farm Equipment Sector (FES), sold 29,180 tractors in India’s domestic market in November 2022 as compared to 26,094 tractors sold in the corresponding month last year. The largest tractor manufacturer in India, Mahindra Tractors today announced its tractor sales numbers for November 2022.
Total tractor sales of the company, domestic and exports, during November 2022 were at 30,528 units, as against 27,681 units for the same period last year. Exports for the month stood at 1,348 units.
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Highlighting the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra, said, “We have sold 29,180 tractors in the domestic market during November 2022, a growth of 12 per cent over last year. Demand continued to remain strong in the post-festival period on account of the brisk sowing of Rabi crops, fuelled by high moisture content in the soil and healthy reservoir levels and is expected to beat last year’s record sowing of 70 million hectares. Procurement of Kharif crops has progressed well, bringing liquidity to the hands of farmers and this augur very well for the tractor industry’s growth. In the exports market, we have sold 1,348 tractors.”
Farm Equipment Sector Summary
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Mahindra Group is one of the largest and most admired multinational federations of companies, enjoying a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.