Mahindra recovery keeps going
Mahindra’s Farm Equipment Sector (FES) published its tractor sales numbers for July 2024. Domestic sales were at 25,587 units, as against 24,168 units during July 2023. Total tractor sales (domestic + exports) were at 27,209 units, as against 25,175 units for July 2023 last year. Exports for the month stood at 1622 units, the strongest […]
Mahindra’s Farm Equipment Sector (FES) published its tractor sales numbers for July 2024. Domestic sales were at 25,587 units, as against 24,168 units during July 2023. Total tractor sales (domestic + exports) were at 27,209 units, as against 25,175 units for July 2023 last year. Exports for the month stood at 1622 units, the strongest growth.
Commenting on the performance, Hemant Sikka, President of Mahindra’s Farm Equipment Sector (FES) said: “We have sold 25587 tractors in the domestic market during July’24, at a growth of 6% over last year. South-West monsoon has progressed very well in the month of July, with surplus rainfall in Central, Western and Southern states; while Bihar, Haryana, Punjab and parts of eastern UP and Jharkhand are still in deficient rainfall category. Kharif sowing has progressed considerably across India uplifting farmer sentiments. Higher crop prices for wheat and potato and increase in MSP for all major kharif crops has further elevated farmers sentiments. Rainfall progress remains a key monitorable for the coming months. With budget allocations supporting agri and rural economy and favourable terms of trade for the farmers, the upcoming festive season is looking very promising for tractor industry. In the export market, we have sold 1622 tractors, a growth of 61% over last year.”
