Mahindra’s FES Sells 21162 tractors in India during January 2022, Down 35% yoy

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Mahindra’s FES Sells 21162 tractors in India during January 2022, Down 35% yoy

    Mahindra’s FES Sells 21162 tractors in India during January 2022, Down 35% yoy

01 Feb, 2022

Mumbai, February 1, 2022: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for January 2022.

 

Domestic sales in January 2022 were at 21162 units, as against 33562 units during January 2021.

 

Total tractor sales (Domestic + Exports) during January 2022 were at 22682 units, as against 34778 units for the same period last year.

 

Exports for the month stood at 1520 units.

 

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 21162 tractors in the domestic market during January 2022. On the back of good rainfall and high moisture content in the soil, Rabi sowing has been very good, and this bodes very well for a bumper crop harvest. Continued Government focus on agriculture, rural infrastructure and higher cash flows with rabi harvest, will lead to positive sentiments and increase in tractor demand. In the exports market, we have sold 1520 tractors, registering a growth of 25% over last year.”

Farm Equipment Sector Summary - January 2022
        Particular                                 January                                              YTD January                
  F22 F21 %Change F22 F21 %Change
Domestic 21162 33562 -37% 2,90030 286846 1%
Exports 1,520 1,216 25% 14468 8536 69%
Total 22682 34778 -35% 304498 295382 3%

*Exports include CKD

 

About Mahindra

Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate. The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.

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