Mumbai: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a key division of the Mahindra Group, has released its tractor sales performance for November 2024, showcasing resilience in domestic demand and robust growth in exports.
The company reported domestic tractor sales of 31,746 units, a modest 2% increase compared to 31,069 units in November 2023. Total tractor sales, combining domestic and export numbers, reached 33,378 units, reflecting a year-over-year growth of 4% over last year’s 32,074 units.
Exports emerged as a highlight, with 1,632 units sold internationally—a significant 62% growth compared to November 2023.
Hemant Sikka, President of the Farm Equipment Sector at Mahindra & Mahindra Ltd., attributed the steady domestic performance to ongoing agricultural activities. “With the Kharif harvest season completed, farmers are moving ahead with Rabi sowing. While a shift in the festive calendar caused a slight decline in industry-wide sales, positive factors such as strong reservoir levels, higher Minimum Support Prices (MSP) for key crops, and healthy farmer cash flows continue to bolster demand,” Sikka stated.
He added that the promising Rabi season, with good sowing progress and expectations of a strong harvest, is likely to further drive demand in the months ahead. The impressive export growth underlines Mahindra’s increasing presence in global markets.
The report highlights Mahindra FES’s ability to navigate market shifts while maintaining growth momentum, both domestically and internationally.
| Farm Equipment Sector Summary | |||||||||||||
| November | YTD November | ||||||||||||
| F25 | F24 | % Change | F25 | F24 | % Change | ||||||||
| Domestic | 31746 | 31069 | 2% | 302308 | 279129 | 8% | |||||||
| Exports | 1632 | 1005 | 62% | 11372 | 8475 | 34% | |||||||
| Total | 33378 | 32074 | 4% | 313680 | 287604 | 9% | |||||||
*Exports include CKD
