MUMBAI, 2 April 2024: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for March 2024.
Domestic sales in March 2024 were at 24276 units, as against 33622 units during March 2023.
Total tractor sales (Domestic + Exports) during March 2024 were at 26024 units, as against 35014 units for the same period last year. Exports for the month stood at 1748 units.
Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said “We have sold 24276 tractors in the domestic market during March 2024. Government announcement of increased advance estimate of horticulture production and Rabi wheat output higher than last year is expected to bring positive sentiments among farmers. Forecast of a normal South -West monsoon this year is expected to further boost tractor demand in the coming months. In the exports market, we have sold 1748 tractors, a growth of 26% over last year.”
| Farm Equipment Sector Summary | ||||||
| March | YTD March | |||||
| F24 | F23 | % Change | F24 | F23 | % Change | |
| Domestic | 24276 | 33622 | -28% | 364526 | 389531 | -6% |
| Exports | 1748 | 1392 | 26% | 13860 | 18014 | -23% |
| Total | 26024 | 35014 | -26% | 378386 | 407545 | -7% |
*Exports include CKD