Mumbai: With a 15 per cent growth, Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the Mahindra Group, clocked its highest-ever annual sale of 407,545 tractors including domestic and exports, in 2022-23. The company disclosed today while announcing its tractor sales numbers for March 2023.
Domestic sales of the company in March 2023 were at 33,622 units, as against 28,112 units during March 2022. Total tractor sales – domestic and exports – during March 2023 were at 35,014 units, as against 29,763 units for the same period last year. Exports for the month stood at 1,392 units.
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Speaking on the March performance, Hemant Sikka, President – Mahindra’s Farm Equipment Sector, said, “We have sold 33,622 tractors in the domestic market during March 2023, a growth of 20 per cent over last year. An increase in crop output, mandi prices staying firm, government support for increase in MSP for major crops and increase in wages under the MGNREGA scheme will help improve the financial security of rural households and boost tractor demand in the coming months. In the exports market, we have sold 1,392 tractors.”
Mahindra FES sales at a glance
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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. The Mahindra Group focuses on leading ESG globally, enabling rural prosperity and enhancing urban living, to drive positive change in the lives of communities and stakeholders to enable them to Rise.