Mahindra’s Farm Equipment Sector Sells 25587 Units in India during July 2024

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today on August 1, 2024, announced its tractor sales numbers for July 2024. Domestic sales in July 2024 were at 25587 units, as against 24168 units during July 2023.

Total tractor sales (Domestic + Exports) during July 2024 were at 27209 units, as against 25175 units for the same period last year. Exports for the month stood at 1622 units.

Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. 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.”

*Exports include CKD