Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) has announced a positive performance in its tractor sales for September 2024. The company reported domestic sales of 43,201 units, showing a 3% increase from 42,034 units sold during the same month last year.
When combined with export figures, total tractor sales for September 2024 reached 44,256 units, compared to 43,210 units in September 2023. Exports accounted for 1,055 units for the month, reflecting a slight decline from last year’s figures.
Hemant Sikka, President of the Farm Equipment Sector at Mahindra & Mahindra Ltd., commented on the encouraging performance, stating, “We have sold 43,201 tractors in the domestic market during September, a growth of 3% over last year. The monsoon rainfall has increased by 7.5% over the long-period average (LPA), contributing to improved kharif sowing for all crops except cotton. Reservoir levels have also recovered significantly, now standing at 13% higher than LPA, which bodes well for a bumper Rabi crop. With a strong kharif harvest and an expected robust Rabi crop, rural sentiment remains positive. Coupled with favorable terms of trade for farmers and upcoming festivals, we anticipate strong demand for tractors in the coming months.”
Farm Equipment Sector Sales Summary – September 2024
- Domestic Sales: 43,201 units (September 2024) vs. 42,034 units (September 2023) – % Change: 3%
- Exports: 1,055 units (September 2024) vs. 1,176 units (September 2023) – % Change: -10%
- Total Sales: 44,256 units (September 2024) vs. 43,210 units (September 2023) – % Change: 2%
Year-to-Date (YTD) Summary
- Domestic Sales: 206,236 units (YTD September 2024) vs. 198,724 units (YTD September 2023) – % Change: 4%
- Exports: 8,613 units (YTD September 2024) vs. 6,346 units (YTD September 2023) – % Change: 36%
- Total Sales: 214,849 units (YTD September 2024) vs. 205,070 units (YTD September 2023) – % Change: 5%
Founded in 1945, the Mahindra Group is one of the largest and most respected multinational federations, employing 260,000 individuals across over 100 countries. It holds a leadership position in various sectors, including farm equipment, utility vehicles, information technology, and financial services in India, and is recognized as the world’s largest tractor company by volume. The group is committed to enhancing rural prosperity and improving urban living, striving to make a positive impact on communities and stakeholders.
