Mumbai, January 01, 2024: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for December 2023.

Domestic sales in December 2023 were at 18,028 units, as against 21,640 units during December 2022.

Total tractor sales (Domestic + Exports) during December 2023 were at 19,138 units, as against 23,243 units for the same period last year. Exports for the month stood at 1,110 units.

Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said “We have sold 18,028 tractors in the domestic market during December 2023. Retail momentum slowed down on account of tapering of agricultural activities, which is the norm in the month of December. Announcement of higher horticulture production and continued Government support to the agri sector are expected to support tractor demand. In the exports market, we have sold 1,110 tractors.”

*Exports include CKD

Mahindra Tractor Sales in December 2023 Impact on M&M Share Price

As the sales reports of Mahindra & Mahindra confirmed the massive decline of 17% in YoY sales, the mahindra share prices are likely to be impacted negatively. The opening sales price on 1st Dec 2023 was INR 1,656.00 while the closing share price was INR 1,729.40 as of Dec 2023.

The highest Mahindra & Mahindra share price in Dec-2023 was INR 1,739.95. As the new year began, a slight decline in the share prices was observed as the opening mahindra share price was INR 1729.40 on 1 Jan 2024 and the closing price was INR 1,703.30 on 1st Jan 2024. At the time of writing (2 Jan 2024), the highest Mahindra & Mahindra share price in Jan 2024 was INR 1,730.00, which is certainly on the lower side as compared to the highest mark of Dec 2023.