Mahindra Tractors sold 21,672 units in total in February 2024, a 16% decrease from 25,791 units sold in the same month the previous year.
The tractor sales report for February 2024 from Mahindra & Mahindra, a major player in the market, shows a notable change in sales numbers from the prior year. In February 2024, Mahindra sold 20,121 vehicles domestically. In comparison to February 2023, when the company sold 24,619 units, this represents a noteworthy 18% reduction. The company is somehow positive about the future of the agriculture sector despite the decline.
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Growth in the Export Market:
On the other hand, Mahindra had a remarkable 32% improvement in tractor sales in the export market. In February 2024, the company sold 1,551 units, a rise from 1,172 units in the same month the previous year, indicating positive expansion in foreign markets.
Overall Sales Performance of Mahindra Tractors:
| Particulars | Feb 2024 | Feb 2023 | Change % |
| Domestic | 20121 | 24619 | -18% |
| Exports | 1551 | 1172 | 32% |
| Total | 21672 | 25791 | -16% |
Mahindra Tractors sold 21,672 units in total in February 2024, a 16% decrease from 25,791 units sold in the same month the previous year.
Year-to-date Sales Figures for Mahindra Tractor:
| Particulars | Year to Date FY’24 | Year to Date FY’23 | Change % |
| Domestic | 340250 | 355909 | -4% |
| Exports | 12112 | 16622 | -27% |
| Total | 352362 | 372531 | -5% |
The company’s reply:
Mahindra sold 340,250 vehicles domestically in 2024, a 4% drop from the same period in 2023, according to year-to-date data from April to February. Compared 12,112 units sold in 2024 to 16,622 units in 2023, export sales indicated a 27% decrease.
Hemant Sikka, President of Mahindra & Mahindra Ltd.’s Farm Equipment Sector, reacted on the performance and highlighted the difficulties the agricultural sector in some areas faces as a result of the unpredictable monsoon.
Mahindra has an advantage despite difficulties in the home market thanks to its export market dominance and positive outlook for the agriculture sector. With continued assistance from the government and optimistic crop projections, Mahindra is optimistic about future growth in tractor sales both domestically and globally.
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