Mahindra’s Farm Equipment Sells 39,405 units during April 2022; Registers 51% Growth

Mahindra & Mahindra Ltd. (M&M Ltd.) reported today that its overall car sales for April 2022 were 45,640 units. Mahindra sold 22,168 cars in the Utility Vehicles segment in April 2022. In April 2022, the Passenger Vehicles segment (which comprises SUVs, Cars, and Vans) sold 22,526 units. The month's exports totalled 2,703 vehicles.

Mahindra tractors sold 17,402 commercial vehicles in April 2022, up 23 percent from the previous month. In April 2022, the light commercial vehicle segments of 2T, Pickups (2T to 3.5T), >3.5T, and heavy commercial vehicles all continued to rise.

"We continued our growth trajectory in the SUV market with sales of 22,168 vehicles, recording a 22 percent increase," said Veejay Nakra, President, M&M Ltd.'s Automotive Division. Our Commercial Vehicles division had growth in all areas, and exports increased by 35%. Demand for our products remains high, with strong booking figures and a strong pipeline. Due to China's closure, there were a lot of supply chain issues. We will continue to keep a close eye on the situation and take corrective action as needed."

Similarly, Mahindra's Farm Equipment Sector (FES) released its tractor sales figures for April 2022, with domestic sales of 39,405 units in April 2022 compared to 26,130 units in April 2021.

In April 2022, total tractor sales (domestic + exports) were 40,939 units, up from 27,523 units in the same month prior year. The month's exports totaled 1,534 units.

"We sold 39405 tractors in the domestic market during April 2022, up 51 percent from last year," stated Hemant Sikka, President Of Farm Equipment Sector, Mahindra & Mahindra Ltd. Demand drivers were on track, resulting in solid growth for our company. Rabi harvesting is going well in most markets. Due to the current global circumstances and significant wheat exports from India, demand for the Indian wheat harvest has been extremely strong, resulting in farmers receiving higher open market prices for their output than MSP. Oilseeds also command a higher market price in the local market.

“Both IMD and Skymet have predicted a normal monsoon this year, which speaks well for the next Kharif season and will help the tractor sector continue to develop. We sold 1534 tractors in the export market, which is a 10% increase over previous year," he added.