Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today i.e., March 01, 2024, announced its tractor sales numbers for February 2024. Domestic sales in February 2024 were at 20121 units, as against 24619 units during February 2023.
Total tractor sales (Domestic + Exports) during February 2024 were at 21672 units, as against 25791 units for the same period last year. Exports for the month stood at 1551 units.
Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said “We have sold 20121 tractors in the domestic market during February 2024. Southern and western states continue to face agri-stress due to erratic and deficient monsoon. However, the Rabi crop outlook is very good, with the wheat crop likely to be a bumper crop.”
“Harvesting has started in a few states with the government supporting early procurement of wheat crops. Continued government support through various rural schemes and enhanced institutional credit will further help boost tractor demand going forward. In the export market, we have sold 1551 tractors, a growth of 32% over last year,” he added.
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Farm Equipment Sector Summary |
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February |
YTD February |
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F24 |
F23 |
% Change |
F24 |
F23 |
% Change |
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Domestic |
20121 |
24619 |
-18% |
340250 |
355909 |
-4% |
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Exports |
1551 |
1172 |
32% |
12112 |
16622 |
-27% |
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Total |
21672 |
25791 |
-16% |
352362 |
372531 |
-5% |
Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It 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.
