Total tractor sales numbers of Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) for March 2022 were at 29,763 units, as against 30,970 units for the same period last year. Exports for the month stood at 1,651 units, a strong increase of 43%. Export growth over the full year March 2021 – 2022 even reached 65%!
Commenting on the performance, Hemant Sikka, President Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 28,112 tractors in the domestic market during March 2022. Record procurement of Kharif acreage, substantial increase in exports of agricultural products like wheat, sugar and cotton will help improve the financial position of the farmers leading to better cash flow in the rural market to help boost tractor demand going forward. Acreage of kharif crop has already crossed last year’s levels, which augurs well for agri incomes. This will get a further boost with early forecast of a normal monsoon. In the exports market, we have sold 1,651 tractors, a growth of 43% over last year.”