MUMBAI, 2 December 2022: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group has announced that it has sold its 29,180 units tractors in November 2022.
Domestic tractors during the same month last year was 26,094 units, the company said in a statement.
Total tractor sales (Domestic + Exports) during November 2022 were at 30,528 units, as against 27,681 units for the same period last year. Exports for the month stood at 1,348 units.
| Farm Equipment Sector Summary | ||||||
| November | YTD November | |||||
| F23 | F22 | % Change | F23 | F22 | % Change | |
| Domestic | 29,180 | 26,094 | 12% | 2,82,024 | 2,52,181 | 12% |
| Exports | 1,348 | 1,587 | -15% | 12,547 | 11,366 | 10% |
| Total | 30,528 | 27,681 | 10% | 2,94,571 | 2,63,547 | 12% |
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd said, “We have sold 29,180 tractors in the domestic market during November 2022, a growth of 12% over last year.”
“Demand continued to remain strong in the post festival period on account of brisk sowing of rabi crops, fuelled by high moisture content in the soil and healthy reservoir levels and is expected to beat last year’s record sowing of 70 million hectares. Procurement of Kharif crop has progressed well, bringing liquidity in the hands of farmers and this augurs very well for tractor industry’s growth. In the exports market, we have sold 1,348 tractors,” Sikka adds.