Mahindra’s Farm Equipment Sector (FES) sold 407,545 new tractors including exports, for the full Year to Date (31 March 2023). This comes down to a 15 percent increase against March 2022. In India only, the company sold 33,622 new tractors during March 2023. Mahindra never realized this result before.
Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 33,622 tractors in the domestic market during March 2023, a growth of 20% over last year. Increase in crop output, mandi prices staying firm, Government support for increase in MSP for major crops and increase in wages under MGNREGA scheme will help improve the financial security of rural households and boost tractor demand in the coming months. In the exports market, we have sold 1,392 tractors.”
