After slight recovery last May, the Mahindra tractor sales volume further recovered during the month of June. The domestic market in India showed modest growth, compared to previous months and the same period last year. Percentage-wise the export part showed the strongest recovery.
Domestic sales in June 2024 were at 45888 units, as against 43364 units during June 2023. Total tractor sales (Domestic + Exports) during June 2024 were at 47319 units, as against 44478 units for the same period last year. Exports for the month stood at 1431 units.
Commenting on the performance, Hemant Sikka, President of the Mahindra Farm Equipment Sector, said “We have sold 45888 tractors in the domestic market during June ’24, a growth of 6% over last year. The government’s announcement of increased foodgrain production, an increase in MSP for major Kharif crops, and further advancement of the Southwest monsoon across the country brings positive sentiments with farmers. With retail momentum having picked up, supported by land preparation and an increase in Kharif crop sowing, demand for tractors is likely to remain strong in the upcoming months. In the export market, we have sold 1431 tractors, a growth of 28% over last year.”
