Mahindra’s FES records 20,647 tractor sales in India during August 2023, Up 3% YoY

Mumbai, September 01, 2023: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for August 2023.

Domestic sales in August 2023 were at 20,647 units, as against 20,138 units during August 2022.

Total tractor sales (Domestic + Exports) during August 2023 were at 21,676 units, as against 21,520 units for the same period last year. Exports for the month stood at 1,029 units.

Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 20,647 tractors in the domestic market during August, a growth of 3% over last year. Despite a 9% monsoon deficit at end of August, Kharif sowing is largely on track and has shown an improvement over last year for all key crops except pulses. Terms of trade continue to be favourable for the farmer, with inputs inflation cooling off and crop prices holding firm. With the upcoming festive season, we expect tractor demand to grow in the coming months. In the exports market, we have sold 1,029 tractors”.

 

Farm Equipment Sector Summary - August 2023
	August			YTD August
	F24	F23	%Change	F24	F23	% Change
Domestic	20,647	20,138	3%	1,56,690	1,55,205	1%
Exports	1,029	1,382	-26%	5,170	8,131	-36%
Total	21,676	21,520	1%	1,61,860	1,63,336	-1%

*Exports include CKD

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