Mahindra’s Tractor Sales See a 3% Boost in September 2024 Amid Positive Rural Sentiment

Robust Monsoon and Improved Crop Outlook Fuel Farm Equipment Sector’s Growth

Mumbai: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a key arm of the Mahindra Group, announced a steady rise in tractor sales for September 2024. The company’s domestic sales reached 43,201 units, marking a 3% increase compared to the 42,034 units sold during the same month last year.

Including exports, Mahindra’s total tractor sales for September 2024 hit 44,256 units, marginally higher than the 43,210 units recorded in September 2023. Exports alone accounted for 1,055 units during the period.

Hemant Sikka, President of the Farm Equipment Sector at Mahindra & Mahindra Ltd., credited favorable weather conditions and strong agricultural performance for the boost. “Monsoon rainfall has exceeded the Long Period Average (LPA) by 7.5%, leading to increased Kharif crop sowing, except for cotton. Reservoir levels are 13% higher than LPA, setting the stage for a promising Rabi crop,” he said.

With improving rural sentiments, favorable market conditions for farmers, and the onset of the festive season, Sikka remains optimistic about continued demand growth in the tractor sector. “We foresee robust demand in the months ahead, bolstered by a successful Kharif harvest and an optimistic Rabi outlook,” he added.

Mahindra’s steady export figures underscore the company’s expanding global footprint, with 1,055 tractors shipped abroad in September.

*Exports include CKD