Despite the decline in the domestic market, the export market grew by 56 percent: Mahindra & Mahindra, the country’s leading and among the top three tractor manufacturers in the world, has released tractor sales figures for February 2022.
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The company has faced a downturn in the domestic and export markets. In February 2022, the total sales (domestic + exports) of Mahindra tractors had registered a decline of 27 per cent. The company has sold a total of 20 thousand 427 units. Whereas in February 2021 last year, 28,146 units were sold.
Mahindra sold 18,910 tractors in the domestic market: Mahindra & Mahindra’s Farm Equipment Sector has sold 18,910 tractors in the domestic market during February 2022 as against 27,170 tractors sold in February 2021 last year. Thus the domestic market has registered a decline of 30 percent on a year-on-year basis.
Let us tell you here that the trend of declining tractor sales was continuing even in January 2022. Mahindra had registered a 35 per cent decline in tractor sales in January 2022 on a year-on-year basis. The company sold 21 thousand 162 tractors in the domestic market on January 22. Whereas the company sold 35 thousand 562 units in January 2021 last year.
Mahindra sold 56 percent more tractors in the export market: Despite the decline in the domestic market, Mahindra has got an edge in the export market. The company has sold 1527 tractors in the export market in February 2022 as against 976 tractors sold in February 2021 last year.
On a year-on-year basis, 56 percent more tractors have been sold in the export market. The company gained in the export market in January 2022 as well. The company had sold 1520 units with a growth of 25 per cent in the export market.
Mahindra sold more than 3 lakh tractors till February 2022: The Mahindra Group comprises Swaraj, Trakstar and Mahindra all three tractor companies. In the financial year 2021-22 till February 2022, Mahindra has sold 3 lakh 24 thousand 935 tractors in the domestic and export market.
The company has sold 3,08,940 tractors in the domestic market while 15,995 tractors in the export market. The company has sold 2 per cent less tractors in the domestic market compared to the last financial year 20-21, while it has sold 68 per cent more tractors in the export market.
Agricultural indicators promising with Rabi sowing: Commenting on the performance, Hemant Sikka, President, Farm Equipment Sector, Mahindra & Mahindra Ltd. said that the company has sold 18910 tractors in the domestic market during February 2022. Agricultural indicators remain promising at all-time high with Rabi sowing and timely record procurement of Kharif crops leaving farmers with high liquidity of cash.
For the third consecutive Rabi season, there has been a record expansion in the sowing area. We are optimistic about an all-time high crop production level. At the same time, now the focus of the government is on increasing the crop incidence in the coming season, this will also bring additional income in the hands of the farmers. He further said that the company has sold 1527 tractors in the export market, which is 56 per cent more than last year.
About mahindra company: Mahindra Tractors is India’s number one tractor manufacturer. The founder of this company, J.C. Mahindra, KC. Mahindra and Malik were Ghulam Muhammad. Mahindra & Mahindra was established as Muhammad & Mahindra and was later changed to Mahindra & Mahindra in 1948.
This company was established in 1945. Presently, Mahindra & Mahindra Company has more than one tractor model coming. Mahindra Group is operating as a multinational company with 2 lakh 60 thousand employees in more than 100 countries.
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