Mumbai: Mahindra & Mahindra’s Farm Equipment Sector (FES), part of the Mahindra Group, Friday announced its tractor sales numbers for February 2024. The tractor giant sold 20,121 tractors in India in February 2024 as against 24619 tractors in February 2023.
Total tractor sales – domestic and exports – during February 2024 were at 21,672 units, as against 25,791 units for the same period last year. Exports for the month stood at 1,551 units.
Highlighting the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 20,121 tractors in the domestic market during February 2024. Southern and western states continue to face agri-stress due to erratic and deficient monsoon. However, the Rabi crop outlook is very good, with the wheat crop likely to be a bumper crop. Harvesting has started in few states with the government supporting early procurement of wheat crop.”
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“Continued government support through various rural schemes and enhanced institutional credit will further help boost tractor demand going forward. In the export market, we have sold 1,551 tractors, a growth of 32 per cent over last year,” Sikka added.
Farm Equipment Sector Summary
| February | YTD February | |||||
| F24 | F23 | % Change | F24 | F23 | % Change | |
| Domestic | 20,121 | 24,619 | -18% | 340,250 | 355,909 | -4% |
| Exports | 1,551 | 1,172 | 32% | 12,112 | 16,622 | -27% |
| Total | 21,672 | 25,791 | -16% | 352,362 | 372,531 | -5% |
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Mahindra Group enjoys 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.
