Mahindra & Mahindra’s Farm Equipment Sector (FES), the largest tractor manufacturer in India, today announced its tractor sales numbers for July 2022. Mahindra Tractors’ domestic sales in July 2022 were at 21,684 units, as against 25,769 units during July 2021.
Total tractor sales, domestic as well as exports, during July 2022 were at 23,307 units, as against 27,229 units for the same period last year. Exports for the month stood at 1,623 units.
Highlighting the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 21,684 tractors in the domestic market during July 2022. After a very robust Q1 wherein we achieved a volume growth of 18 per cent, the month of July witnessed normalisation in volumes. July is traditionally a lean month as the land preparation phase, wherein a tractor finds the highest utility, gets over and farmers start sowing their crops.”
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“Monsoon, which is a key determinant of agri growth has stayed on the course so far. Overall rainfall has been higher than normal barring a few states in the eastern part of the country, which have received deficient rainfall until now. With these states being the country’s key paddy-producing markets, recovery in rainfall is crucial. Festive season falling in the latter half of August and sufficient rainfalls across most of the geographies will shape up the industry in the upcoming months. In the exports market, we have sold 1,623 tractors,” Sikka added.
Farm Equipment Sector Summary – July 2022
*Exports include CKD
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.