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Mumbai, May 2, 2022: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, today announced its tractor sales numbers for April 2022.
Domestic sales in April 2022 were at 39,405 units, as against 26,130 units during April 2021.
Total tractor sales (Domestic + Exports) during April 2022 was at 40,939 units, as against 27,523 units for the same period last year.
Exports for the month stood at 1,534 units.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 39,405 tractors in the domestic market during April 2022, at a growth of 51% over last year. Our business witnessed strong growth with demand drivers staying on course. Rabi harvesting has progressed well across markets. Amidst the ongoing global situation and high exports of wheat from India, demand for the Indian wheat crop has been very high and this has led to farmers getting higher prices in the open market for their produce than MSP. Furthermore, oilseeds are fetching a higher market price in the domestic market. Both IMD and Skymet have forecasted a normal monsoon for this year, and this bodes very well for the upcoming Kharif season and will support continued growth for the tractor industry. In the exports market, we have sold 1,534 tractors, at a growth of 10% over last year.”
|Farm Equipment Sector Summary - April 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
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