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Mahindra's Farm Equipment Sector Achieves All-Time High Tractor Sales

Farm ME |Agri industry

Mahindra’s Farm Equipment Sector Achieves All-Time High Tractor Sales of 64,326 Units in India for October 2024

864 views | Date: November 19, 2024

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Mumbai - Mahindra & Mahindra Limited., a farm equipment manufacturer’s Farm Equipment Sector (FES), a key division of the Mahindra Group, has officially released its tractor sales figures for October 2024.

In October 2024, Mahindra & Mahindra Ltd.’s Farm Equipment Sector recorded domestic tractor sales of 64,326 units, marking a significant increase compared to 49,336 units sold in October 2023.

The total tractor sales, including both domestic and export markets, reached 65,453 units for October 2024, up from 50,460 units during the same period last year. Exports for the month totaled 1,127 units.

Mr. Hemant Sikka, President of Farm Equipment Sector, Mahindra & Mahindra Ltd, said, "We have sold 64326 tractors in the domestic market during October, a growth of 30% over last year. The tractor industry has seen very robust growth on the back of many positive factors coming together, notable being a very good monsoon, a good Kharif crop, high reservoir levels which will help in Rabi crops, and the government's announcement of higher MSP on key Rabi crops. With festive season providing momentum to positive sentiments, we expect demand to remain strong in the coming months. In the exports market, we have sold 1127 tractors."