The February 2024 tractor sale report of Mahindra’s Farm Equipment Sector is out and Let’s talks about domestic tractor sales, total tractor sales, and export tractor sales in detail. As the report shows, Mahindra sold 21,672 tractors and experienced a decline of 16% in YoY total tractor sales. It recorded total sales of 25,791 tractors in February 2023.
If we specifically talk about domestic tractor sales, Mahindra sold 20,121 tractors in domestic markets in February 2024 against the 24,619 tractors sold in February 2023. This way, it registered an 18% decline in YoY tractor sales.
We also gained insights into Mahindra tractor export sales through this report. The Mahindra exported 1,551 tractors in February 2024 against the 1,172 tractors in February 2023. This way YoY export tractor sales jumped by 32%, which indicates the increasing popularity of Mahindra’s tractors in international markets.
Mahindra Tractor Sales Year To Date February 2024
Mahindra recorded 3,40,250 domestic tractor sales and 12,112 export tractor sales during YTD February 2024. Hence, the total YTD February 2024 Mahindra sales is 3,52,362 tractors. Mahindra YTD February 2023 Domestic sales were 3,55,909 tractors and export sales were 16,622 tractors. The total YTD February 2023 sales of Mahindra were 3,72,531 tractors.
Taking numbers into consideration, we observed that the YTD February 2024 sales declined in each domain. The YTD domestic tractor sales experienced 4% drop, export tractor sales recorded 27% drop, and total YTD tractor sales decreased by 5%.
Hemant Sikka, President of Farm Equipment Sector, Mahindra & Mahindra Ltd. offered his valuable insights into the company's performance during February 2024.
He said, “We have sold 20,121 tractors in the domestic market during February 2024. Southern and western states continue to face agri stress due to erratic and deficient monsoon. However, Rabi crop outlook is very good, with wheat crop likely to be a bumper crop. Harvesting has started in a few states with the government supporting early procurement of wheat crops. Continued government support through
various rural schemes and enhanced institutional credit will further help boost tractor demand going forward. In the export market, we have sold 1,551 tractors, a growth of 32% over last year.”
| Mahindra Tractor Sales |
| |
Mahindra Tractor Sales - February 2024 |
Mahindra Tractor Sales YTD - February 2024 |
| |
F24 |
F23 |
% Change |
F24 |
F23 |
% Change |
| Domestic |
20,121 |
24,619 |
-18% |
3,40,250 |
3,55,909 |
-4% |
| Exports |
1,551 |
1,172 |
32% |
12,112 |
16,622 |
-27% |
| Total |
21,672 |
25,791 |
-16% |
3,52,362 |
3,72,531 |
-5% |
*Exports include CKD
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