Mahindra Farm Equipment sector registers 31% growth in January 2023 | The Financial Express

Mahindra Farm Equipment sector registers 31% growth in January 2023

Mahindra’s Farm Equipment Sector saw a domestic growth of 31 percent in January 2023, while its overall sales also saw a growth of 28 percent.

mahindra tractor sales

Mahindra & Mahindra’s Farm Equipment Sector (FES), part of the Mahindra Group, has announced its tractor sales numbers for January 2023.

Domestic sales in January 2023 were at 27,626 units, as against 21,162 units during January 2022. The company registered a domestic growth of 31 percent. During the same period, Mahindra’s total tractor sales, including exports stood at 28,926 units, as against 22,682 units for the same period last year. Exports for the month stood at 1,300 units, down 14 percent, while overall sales saw a growth of 28 percent.

Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 27,626 tractors in the domestic market during January 2023, registering a growth of 31% over last year. We are off to a good start to the year with promising Rabi crop outlook as sowing acreage for key crops of wheat, pulses and oil seeds has already surpassed previous year levels, supported by conducive soil and weather conditions.”

He added, “This bodes well for the coming months, as the farmers start harvesting this bumper crop. In addition, continued government focus and higher investment in this sector will aid positive sentiments and boost tractor demands. In the exports market, we have sold 1300 tractors.”

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First published on: 02-02-2023 at 14:31 IST