Mahindra’s Farm Equipment Sector Sells 24,619 Units in India during February 2023

Bangalore, March 1, 2023: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for February 2023.

Domestic sales in February 2023 were at 24,619 units, as against 18,910 units during February 2022.

Total tractor sales (Domestic + Exports) during February 2023 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 – Farm Equipment Sector, Mahindra & Mahindra Ltd. 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. In the exports market, we have sold 1172 tractors.”

Farm Equipment Sector Summary 
February YTD February
F23 F22 % Change F23 F22 % Change
             
Domestic 24619 18910 30% 355909 308940 15%
           
Exports 1172 1527 -23% 16622 15995 4%
   
Total 25791 20437 26% 372531 324935 15%

*Exports include CKD

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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.