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

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.