Mahindra sales lagging behind

Mahindra’s Farm Equipment Sector (FES) published its tractor sales numbers for September 2023. Domestic sales were at 42,034 units, as against 47,100 units during September 2022, an 11% decrease. Total tractor sales (Domestic + Exports) were at 43,210 units, as against 48,713 units for the same period last year. Exports for the month stood at 1,176 units, a substantial decrease of 27%.

Commenting on the performance, Hemant Sikka, President Farm Equipment Sector, Mahindra & Mahindra Ltd. said “We have sold 42,034 tractors in the domestic market during September 2023. Smart recovery in Kharif sowing with more than 110 mn hectares and the start of festive fervor is expected to bring positive sentiments among the farmers. Normal rains in September have helped overall monsoon to achieve near normal levels and this will help in Rabi sowing, especially in Central, Northern and Western regions of India”.

In the exports market, Mahindra sold 1,176 tractors for the month of September, a decrease of 27 percent. YTD sales went down with 35 percent.