Mahindra’s Farm Equipment sells 20121 tractors during February 2024

MUMBAI, 3 March 2024: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today 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, Rabi crop outlook is very good, with wheat crop likely to be a bumper crop. Harvesting has started in few states with the government supporting early procurement of wheat crop. 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.”

Farm Equipment Sector Summary
		February				YTD February
		F24		F23		% Change		F24		F23		% Change
Domestic		20121		24619		-18%		340250		355909		-4%
Exports		1551		1172		32%		12112		16622		-27%
Total		21672		25791		-16%		352362		372531		-5%

*Exports include CKD