Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), again realized satisfying tractor sales in the month February 2023. Domestic sales were at 24,619 units, as against 18,910 units during February 2022. Total sales (Domestic + Exports) were at 25,791 units, as against 20,437 units for the same period last year. Exports for the month stood at 1,172 units.
Commenting on the performance, Hemant Sikka, President FES said: “We have sold 24,619 tractors in the domestic market during February 2023, a growth of 30% over last year. Record Rabi crop acreage for wheat and oilseeds, high crop prices and better terms of trade for farmers is leading to positive sentiments in the rural markets. Expected higher Rabi output will improve liquidity in the hands of the farmers, supporting tractor demand. Water reservoir levels continue to remain high”
The exports market was less favorable. In total, Mahindra sold 1172 tractors, against 1527 in February 2022. This comes down to 23% less. Yet, including domestic sales, Mahindra realized a total increase of 26% versus February 2022.
