With Kharif crop harvest starting soon and crop prices holding firm, the sentiment is positive
Mahindra & Mahindra Ltd’s Farm Equipment Sector (FES), part of the Mahindra Group, has announced that its domestic tractor sales were at 47,100 units for September 2022 as against 39,053 units during the same period last year.
The total tractor sales including domestic and exports during September 2022 were at 48,713 units, as against 40,331 units for September 2021. Exports for the month stood at 1,613 units.
Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 47,100 tractors in the domestic market during September 2022, a growth of 21 per cent over last year. This is our highest ever sale in a month. Demand remained strong during the month owing to festive boost, which we expect to continue in October as well. With Kharif crop harvest starting soon and crop prices holding firm, the sentiment is positive. Above normal monsoon has improved the reservoir levels, leading to high moisture content in the soil, which is very positive for higher food grain production in the upcoming Rabi season. In the exports market, we have sold 1,613 tractors with a growth of 26 per cent over last year”.