Decline in Mahindra sales

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Mahindra published its tractor sales numbers for March 2024. Domestic sales were at 24,276 units, against 33,622 units during March 2023.  Total tractor sales (domestic + exports) were at 26,024 units, against 35,014 units for the same period last year.

Commenting on the performance, Hemant Sikka, President Farm Equipment Sector (FES), said “Government announcement of increased advance estimate of horticulture production and Rabi wheat output higher than last year, is expected to bring positive sentiments among farmers. Forecast of a normal South -West monsoon this year is expected to further boost tractor demand in the coming months.  In the exports market, we have sold 1,748 tractors, a growth of 26% over last year.”             

Over the year to date, total production of Mahindra went down by 7 percent, with the strongest decline on the export market.

 

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