Mahindra’s Farm Equipment Sector registers 50% growth in May 2022

Mahindra’s Farm Equipment Sector registers 50% growth in May 2022
According to Mahindra Group, better remuneration for farmers for their produce, creating a positive sentiment and higher demand for tractors and agri implements

Mahindra & Mahindra’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for May 2022.

Domestic sales of Mahindra Tractors in May 2022 were at 34,153 units, as against 22,843 units during May 2021. Total tractor sales, domestic and exports, during May 2022 were at 35,722 units, as against 24,184 units for the same period last year. Exports for the month stood at 1,569 units.

Highlighting the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 34,153 tractors in the domestic market during May ’22, a growth of 50 per cent over last year. This is on the back of 51 per cent growth achieved in the month of April ’22. With the timely arrival of the south-west monsoon and forecast of a normal monsoon, kharif crop is expected to deliver record production. Food prices continue to be high, ensuring better remuneration for farmers for their produce, creating a positive sentiment and higher demand for tractors and agri implements. In the exports market, we have sold 1569 tractors, a growth of 17 per cent over last year.”

You may also like to read: Eicher Tractors launches Prima G3 tractors for next-gen farmers

Farm Equipment Sector Summary – May 2022

  May YTD May
  F23 F22 %Change F23 F22 %Change
Domestic 34153 22843 50% 73558 48973 50%
Exports 1569 1341 17% 3103 2734 13%
Total 35722 24184 48% 76661 51707 48%

Mahindra Group enjoys a leadership position in the 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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