Mahindra’s Farm Equipment Sector Sells 354,498 tractors in FY21, Up by 17.4 percent YoY

Mahindra’s Farm Equipment Sector Sells 29,817 Units in India during March 2021

01 Apr, 2021

Mumbai, April 1, 2021: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, today announced its tractor sales numbers for March 2021. Domestic sales in March 2021 were at 29,817 units, as against 13,418 units during March 2020.

Total tractor sales (Domestic + Exports) during March 2021 were at 30,970 units, as against 13,613 units for the same period last year.

Exports for the month stood at 1,153 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 29,817 tractors in the domestic market during March 2021 with a growth of 122% over last year. Impact of lower base coupled with continued positive sentiments driven by healthy reservoir levels, higher MSP, and increased liquidity, have led to strong wholesale growth in March. Tractor demand is expected to remain strong as Rabi harvesting is progressing well along with the onset of sowing of summer crops in select markets. In the exports market, we have sold 1,153 tractors, a growth of 491% over last year.”

*Exports include CKD

About Mahindra

The Mahindra Group is a USD 19.4 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses, and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services, and vacation ownership in India and is the world’s largest tractor company by volume. It also enjoys a strong presence in renewable energy, agribusiness, logistics and real estate development. Headquartered in India, Mahindra employs over 2,56,000 people across 100 countries.