The Farm Equipment Sector (FES) of Mahindra & Mahindra Ltd., a part of the Mahindra Group, released its December 2022 tractor sales figures on Monday.
In contrast to the 16,687 units sold in December 2021, there were 21,640 domestic sales in the month of December 2022.
Speaking on the performance, Hemant Sikka, President of Mahindra & Mahindra Ltd.'s Farm Equipment Sector said, "We have sold 21,640 tractors in the domestic market during December 2022, a growth of 30% over last year. Rabi crop sowing has progressed very well and is higher than last year's acreage and the average of the last 5 years. Wheat and oil seeds are expected to be a bumper harvest."
"On the back of strong Rabi sowing, good kharif procurement, and likely exports of wheat, the sentiments continue to remain upbeat in the farming sector, leading to strong demand for tractors and farm implements. In the exports market, we have sold 1,603 tractors, a growth of 1% over last year", he added.
In comparison to the same month the year before that, total tractor sales (domestic + exports) in December 2022 were 23,243 units as opposed to 18,269 units. For the month, 1,603 units were exported.
About Mahindra
The Mahindra Group, which was founded in 1945, is one of the biggest and most renowned international conglomerates of businesses, employing 260,000 people across more than 100 nations. It happens to be the world's largest tractor firm by volume and leads the market in India for farm equipment, utility vehicles, information technology, and financial services. It is also well-established in the fields of agriculture, logistics, hospitality, and renewable energy.
According to the organization, the group is firmly committed to leading ESG internationally, fostering rural prosperity, and improving urban living, with the aim of bringing about a good change in communities and stakeholders' lives and empowering them to Rise.
