Mumbai: Mahindra & Mahindra’s Farm Equipment Sector (FES), part of the Mahindra Group, Monday announced its tractor sales numbers for March 2024.
The tractor manufacturer sold 24,276 tractors in March 2024 as against 33,622 tractors sold in March 2023 in India. The total tractor sales, domestic and exports, during March 2024 were at 26,024 units, as against 35,014 units for the same period last year. Exports for the month stood at 1,748 units.
Speaking on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 24,276 tractors in the domestic market during March 2024. The government announcement of an increased advance estimate of horticulture production and Rabi wheat output higher than last year is expected to bring positive sentiments among farmers. A forecast of a normal South-West monsoon this year is expected to further boost tractor demand in the coming months. In the export market, we have sold 1,748 tractors.”
Farm Equipment Sector Summary
| March | YTD March | |||||
| F24 | F23 | % Change | F24 | F23 | % Change | |
| Domestic | 24276 | 33622 | -28% | 364526 | 389531 | -6% |
| Exports | 1748 | 1392 | 26% | 13860 | 18014 | -23% |
| Total | 26024 | 35014 | -26% | 378386 | 407545 | -7% |
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According to the company note, Mahindra Group is one of the largest multinational federations of companies, 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.
