Mahindra’s FES records highest ever annual sales of 407545 tractors in FY'23, Up 15% YoY

03 Apr, 2023

Mumbai, April 3, 2023: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for March 2023.

Domestic sales in March 2023 were at 33,622 units, as against 28,112 units during March 2022.

Total tractor sales (Domestic + Exports) during March 2023 were at 35,014 units, as against 29,763 units for the same period last year. Exports for the month stood at 1,392 units. The company clocked its highest ever annual sale of 4,07,545 Units (Domestic + Exports) in FY’23.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 33,622 tractors in the domestic market during March 2023, a growth of 20% over last year. Increase in crop output, mandi prices staying firm, Government support for increase in MSP for major crops and increase in wages under MGNREGA scheme will help improve the financial security of rural households and boost tractor demand in the coming months. In the exports market, we have sold 1,392 tractors.”

*Exports include CKD