Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), sold 27,626 new tractors in India during January, a solid growth of 31 percent compared to January 2022. Exports went down with 14 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. 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, Mahindra has sold 1300 tractors, a decrease of 14 percent.