Mahindra & Mahindra’s Farm Equipment Sector (FES), part of the Mahindra Group sold 24,168 tractors in July 2022, a growth of 11 percent YoY, compared to 21,684 units sold last year.
In the export market, the company shipped 1,007 units, which was down 38 percent YoY, compared to 1,623 units last year.
Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 24,168 tractors in the domestic market during July, with a growth of 11% over last year. The cumulative seasonal rainfall spread across the country has recovered very well in the month of July and this has helped sowing of kharif acreage to pick up momentum.”
“Aggregate sowing of Kharif crops is now ahead of last year, with most key crops including paddy and oil seeds have recovered, though pulses is still lagging in sowing. Terms of trade are now in favour of farmers, with continued decrease in input costs. The sentiments are positive in rural economy, and this is likely to support demand in the coming months,” he concluded.
