Mahindra’s Farm Equipment Sector sales up by 21%, sells 47,100 tractors in India, exports touch 1,613 units | The Financial Express

Mahindra’s Farm Equipment Sector sales up by 21%, sells 47,100 tractors in India, exports touch 1,613 units

M&M’s FES domestic sales in September 2022 stood at 47,100 units, as against 39,053 units during September 2021 indicating a 21 percent Year-on-Year growth (Y-o-Y).

Mahindra’s Farm Equipment Sector sales up by 21%, sells 47,100 tractors in India, exports touch 1,613 units
Going forward, Industry experts believe that rising interest rates, inflationary concerns and a significantly higher base are seen as key challenges in the second half of FY2023.

Mahindra & Mahindra’s Farm Equipment Sector (FES), part of the Mahindra Group, announced its tractor sales numbers for September 2022.  

Domestic sales in September 2022 stood at 47,100 units, as against 39,053 units during September 2021 indicating a 21 percent Year-on-Year growth (Y-o-Y). 

The company’s total tractor sales (domestic + exports) during September 2022 were at 48,713 units, as against 40,331 units for the same period last year noting a cumulative 21 percent growth increment.

Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra, attributing the festive season to the strong demand rationalised, “We expect to continue in October as well. With the Kharif crop harvest starting soon and crop prices holding firm, the sentiment is positive. Above normal monsoon has improved the reservoir levels, leading to the high moisture content in the soil, which is very positive for higher food grain production in the upcoming Rabi season.”

The M&M group enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is one of the largest tractor companies by volume making a 26 percent Y-o-Y profit in the export market by selling 1,613 tractors.

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