Mahindra’s Farm Equipment Sector sells 22972 tractors in India in January 2024

Mahindra’s Farm Equipment Sector sells 22972 tractors in India in January 2024

Mumbai: Mahindra & Mahindra’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for January 2024.

With a decline of 17 per cent, the domestic sales of Mahindra FES in January 2024 were at 22972 tractors, as against 27626 tractors during January 2023.

Total tractor sales, domestic and exports, during January 2024 were at 23948 units, as against 28926 units for the same period last year. Exports for the month stood at 976 units.

Speaking on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra said “We have sold 22972 tractors in the domestic market during January 2024. Retail momentum slowed down on account of the tapering of agricultural activities. Rabi crop output is expected to be good with prevailing cold conditions helping the key crop of wheat.”

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“Government announcement of a good estimate of horticulture production, and continued government support to boost rural economy will aid positive sentiments and support tractor demand in the coming months. In the export market, we have sold 976 tractors,” Sikka added.

Farm Equipment Sector Summary
January YTD January
F24 F23 % Change F24 F23 % Change
Domestic 22972 27626 -17% 320129 331290 -3%
Exports 976 1300 -25% 10561 15450 -32%
Total 23948 28926 -17% 330690 346740 -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.

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