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Mumbai, November 1, 2022: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for October 2022.
Domestic sales in October 2022 were at 50,539 units, as against 45,420 units during October 2021.
Total tractor sales (domestic + exports) during October 2022 were at 51,994 units, as against 47,017 units for the same period last year. Exports for the month stood at 1,455 units.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 50,539 tractors in the domestic market during October 2022, a growth of 11 percent over last year. Festive season kept the spirits high and led to very strong momentum in demand for tractors and farm machinery. The recent government announcement of higher MSP for key Rabi crops, good moisture content in the soil, high reservoir levels and good progress in sowing for Rabi crops are all positives for continued good demand for tractors in coming months. In the exports market, we have sold 1,455 tractors.”
|Farm Equipment Sector Summary - October 2022|
*Exports include CKD
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
Media contact information
Pramuch Goel (Strategic & Corporate)
Senior Manager, Group Communications
Mahindra & Mahindra Ltd.
Email – [email protected]