The Mahindra Group’s Farm Equipment Sector (FES), a division of Mahindra & Mahindra, has released its February 2023 tractor sales figures. With sales of 24,619 tractors in February 2023 compared to 18,910 units in February 2022, Mahindra FES saw a 30% increase in the domestic market. Total domestic sales of tractors for the business.
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Hemant Sikka, President of Mahindra & Mahindra’s Farm Equipment Sector, highlighted the performance by stating, “We have sold 24,619 tractors in the domestic market during February 2023, a growth of 30% over last year.”
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“Record Rabi crop acreage for wheat and oilseeds, high crop prices, and better terms of trade for farmers are 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.” Sikka continued.
Mahindra Group, one of the biggest and most well-known international corporations, is the largest tractor manufacturer in the world by volume and is the market leader in India for farm equipment, utility vehicles, information technology, and financial services. In the industries of agriculture, logistics, hotels, and renewable energy, it is well-established.
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