Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, announced its tractor sales for November 2024, reporting a 4% year-on-year growth in total tractor sales, including exports.
- Domestic sales: 31,746 units were sold in November 2024, registering a 2% increase compared to 31,069 units in November 2023.
- Exports: Tractor exports surged by 62%, reaching 1,632 units compared to 1,005 units in November 2023.
- Total sales (Domestic + Exports): The overall sales stood at 33,378 units, up from 32,074 units in November 2023.
Year-to-date (YTD) April-November 2024 performance:
- Domestic sales increased by 8% to 3,02,308 units compared to 2,79,129 units in the previous year.
- Exports grew 34% to 11,372 units, compared to 8,475 units for the same period last year.
Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd., stated, “We have sold 31,746 tractors in the domestic market during November 2024, a growth of 2% over last year. With the Kharif harvest season complete, farmers are progressing with Rabi sowing. Good reservoir levels, higher MSP for key crops, and positive farmer sentiment are expected to further boost tractor demand. In the export market, sales have grown 62%, reflecting strong global demand.”
Mahindra’s Farm Equipment Sector remains a leader in the tractor industry, continuing to drive innovation and sustainability through its ESG-focused initiatives.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a financial advisor before making any investment decisions.
