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Mahindra Tractor Sales decline by 7% in FY'24: Only Four Months Showed Growth in Sales

Mahindra Tractor Sales decline by 7% in FY'24: Only Four Months Showed Growth in Sales

    Mahindra Tractor Sales decline by 7% in FY'24: Only Four Months Showed Growth in Sales

01 Apr, 2024

FY'24 has come to an end. Let’s have a look at the Mahindra tractor sale in FY’24 for export and domestic markets. Considering the revealed numbers, we can say that Mahindra experienced a mixed sales performance in the Indian tractor industry and in the export market in FY’24.

TractorGyan analyzed the Financial Year 2024 Mahindra Tractor Sales data and helped you understand the YoY performance.

Overview of Mahindra Domestic and Export Tractor Sales in Financial Year 2024

Throughout the entire FY’24, Only Four months, June 2023, July 2023, August 2023, and November 2023, of FY '24 recorded a remarkable growth in Mahindra’s domestic tractor sales.

In the export domain, February 2024 is the only month of FY’24 where significant growth is noticed.

Monthly Breakdown of Mahindra Tractor Sales in Financial Year 2024 

  Mahindra Tractor Sales FY’24   Mahindra Tractor Sales FY’23  
Months Domestic Export Total Domestic Export Total
April 35,398 1,007 36,405 39,405 1,534 40,939
May 33,113 1,013 34,126 34,153 1,569 35,722
June 43,364 1,114 44,478 39,825 2,023 41,848
July 24,168 1,007 25,175 21,684 1,623 23,307
August 20,647 1,029 21,676 20,138 1,382 21,520
September 42,034 1,176 43,210 47,100 1,613 48,713
October 49,336 1,124 50,460 50,539 1,455 51,994
November 31,069 1,005 32,074 29,180 1,348 30,528
December 18,028 1,110 19,138 21,640 1,603 23,243
January 22,972 976 23,948 27,626 1,300 28,926
February 20,121 1,551 21,672 24,619 1,172 25,791
March  24,276  1,748  26,024 33,622 1,392 35,014
Total 3,64,526  13,860  3,78,386 3,89,531 18,014 4,07,545

Mahindra Tractor Sales in FY’24

The total Mahindra tractor sales for FY’24 is 3,78,386 units and it demonstrated a drop of 7% in total YoY tractor sales.The total FY’23 Mahindra tractor sale was 4,07,545 units. 

The breakdown for domestic and export Mahindra tractor sales for FY’24 is 3,64,526 units and 13,860 units respectively. In FY'23, the domestic and export tractor sales of Mahindra were 3,89,531 units and 18,014 units respectively. This way, Mahindra noticed a drop of 6% and 23% in YoY sales in respective markets. 

Mahindra Tractor Sales in March 2024 

Total Mahindra tractor sales in March 2024 are 26,024 units against 35,014 units sold in March 2023. With this dropped sale, Mahindra recorded 26% YoY decline. 

The breakdown for domestic and export markets is 24,276 units and 1,748 units for March 2024. As the domestic and export market sales were 33,622 units and 1,392 units in March 2023, Mahindra experienced 28% drop and 26% growth in YoY sales rate for both markets respectively. 

TractorGyan’s Take on Mahindra Tractor Sales in Financial Year 2024

TractorGyan keeps an eye on the Indian tractor industry and reviews these sales data from close. Seeing the data, we conclude that Mahindra tractors are loved by both national and international consumers and a major reason is the farm mechanization offered in these tractors. With the anticipated good Rabi harvest, we expect potential growth for Mahindra in FY'25.  

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