Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) reported an increase in domestic tractor sales for June 2024, reaching 45,888 units compared to 43,364 units in June 2023.
On July 1, 2024, Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a division of the Mahindra Group, released its tractor sales figures for June 2024.
Domestic sales increased to 45,888 units in June 2024 from 43,364 units in June 2023.
Total tractor sales, including both domestic and exports, reached 47,319 units in June 2024, compared to 44,478 units during the same month last year.June 2024 exports totaled 1,431 units.
Hemant Sikka, President of Mahindra & Mahindra Ltd.’s Farm Equipment Sector, commented on the performance, noting, “In June 2024, we achieved sales of 45,888 tractors in the domestic market, reflecting a 6% growth from the previous year. Positive factors such as the government’s announcement of increased foodgrain production, higher minimum support prices (MSP) for major Kharif crops, and the advancing Southwest monsoon across the nation are fostering optimism among farmers.” With retail momentum picking up, driven by land preparation and increased Kharif crop sowing, we anticipate strong demand for tractors in the coming months. In the export market, we sold 1,431 tractors, reflecting a 28% growth over last year.”
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