Mumbai - Mahindra & Mahindra Ltd., Farm Equipment Sector (FES) reported a robust 20% year-on-year growth in tractor sales for December. This growth highlights strong rabi sowing activity and positive market sentiment driven by healthy cash flows from the Kharif harvest. With over 40% market share, Mahindra sold 22,943 tractors during the month, including domestic and export units, up from 19,138 tractors sold in the same period last year.
Domestic sales stood at 22,019 units, up from 18,028 units in the same month last year. However, exports dropped by 17% to 924 tractors. Looking ahead, the company remains optimistic, relying on strong agricultural sentiments and favorable trade conditions for farmers.
Mr. Hemant Sikka, President, Farm Equipment Sector, Mahindra & Mahindra Ltd, said, "Sentiments have remained positive in December on account of positive cash flow momentum from Kharif harvest. Favourable reservoir levels have resulted in strong sowing for the rabi season, further increasing demand for tractors."
In December 2024, Mahindra's domestic sales grew by 9%, with 324,327 units sold compared to 297,157 units in December 2023.
The domestic tractor industry has seen slow growth this financial year, with flat volumes in the first half. However, companies are hopeful for mid-single-digit growth for the full year, with double-digit growth expected in the second half due to a recovering rural economy, good monsoon, and government spending. From April to November, the industry recorded 688,054 domestic sales, a 4.3% increase from 659,881 units in the same period last year.
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