Mahindra Tractors registers 9% sales growth in the domestic market in June 2023

Mahindra Tractors registers 9% sales growth in domestic market in June 2023

Mumbai – Registering a 9 per cent growth, Mahindra & Mahindra’s Farm Equipment Sector (FES), part of the Mahindra Group, sold 43,364 tractors in India in June 2023 as against 39,825 tractors sold during June 2022, the tractor manufacturer announced today.

Mahindra Tractors’ total tractor sales, domestic as well as exports, during June 2023 were at 44,478 units, as against 41,848 units for the same period last year. Exports for the month stood at 1,114 tractors.

Highlighting the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 43,364 tractors in the domestic market during June 2023 with a growth of 9 per cent over last year. Though the arrival of South- West monsoon got delayed due to cyclonic disturbances, it has smartly progressed in the last week of June and has now covered the entire country, bringing huge relief to the farmers and aiding in Kharif sowing. As on date, aggregate sowing acreage of Kharif crops is ahead of last year’s acreage and is progressing at a fast pace.”

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“In addition, record rabi crops, Government support with an increase in MSP for all Kharif crops and improving terms of trade for farmers are positive factors that are expected to support tractor demand going forward. In the exports market, we have sold 1,114 tractors,” Sikka added.

Farm Equipment Sector Sales Summary
June YTD June
F24 F23 % Change F24 F23 % Change
Domestic 43,364 39,825 9% 1,11,875 1,13,383 -1%
Exports 1,114 2,023 -45% 3,134 5,126 -39%
Total 44,478 41,848 6% 1,15,009 1,18,509 -3%

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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