MUMBAI, 3 February 2024: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for January 2024.
Domestic sales in January 2024 were at 22972 units, as against 27626 units during January 2023.
Total tractor sales (Domestic + Exports) during January 2024 were at 23948 units, as against 28926 units for the same period last year. Exports for the month stood at 976 units.
Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said “We have sold 22972 tractors in the domestic market during January 2024. Retail momentum slowed down on account of tapering of agricultural activities. Rabi crop output is expected to be good with prevailing cold conditions helping the key crop of wheat. Government announcement of a good estimate of Horticulture production, and continued government support to boost rural economy will aid positive sentiments and support tractor demand in the coming months. In the exports market, we have sold 976 tractors.”
| Farm Equipment Sector Summary | |||||||||||||
| January | YTD January | ||||||||||||
| F24 | F23 | % Change | F24 | F23 | % Change | ||||||||
| Domestic | 22972 | 27626 | -17% | 320129 | 331290 | -3% | |||||||
| Exports | 976 | 1300 | -25% | 10561 | 15450 | -32% | |||||||
| Total | 23948 | 28926 | -17% | 330690 | 346740 | -5% | |||||||
*Exports include CKD