Mahindra's farm equipment sector saw a 15% increase in January tractor sales, supported by higher domestic demand, better agricultural conditions, and government policies.
02 Feb 2025 | 5056 Views | By Autocar Pro News Desk
Mahindra & Mahindra Ltd.'s Farm Equipment Sector reported domestic tractor sales of 26,305 units in January 2025, marking a 15% increase from 22,972 units sold in January 2024. The company's total sales, including exports, reached 27,557 units compared to 23,948 units in the same period last year.
Export performance ...
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Mahindra & Mahindra Ltd.'s Farm Equipment Sector reported domestic tractor sales of 26,305 units in January 2025, marking a 15% increase from 22,972 units sold in January 2024. The company's total sales, including exports, reached 27,557 units compared to 23,948 units in the same period last year.
Export performance showed significant growth with 1,252 units shipped overseas, representing a 28% increase from 976 units in January 2024. The company's year-to-date domestic sales for fiscal year 2025 stood at 350,632 units, up 10% from 320,129 units in the previous fiscal year.
Hemant Sikka, President of Mahindra's Farm Equipment Sector, attributed the growth to favorable agricultural conditions, including above-normal southwest monsoon and high water storage levels in major reservoirs, which supported increased Rabi sowing. He noted that continued government support through rural schemes and agricultural subsidies contributed to the sector's performance.
Mahindra & Mahindra, a key player in India's agricultural machinery sector, has maintained its position as one of the country's leading tractor manufacturers. The company's Farm Equipment Sector has consistently focused on serving the agricultural community through its range of tractors and farm implements.
The growth in tractor sales serves as an indicator of rural economic activity and agricultural mechanization in India. The sector's performance is closely tied to factors such as monsoon patterns, government policies, and rural income levels. Looking ahead, the company anticipates that potential increased budget allocation in upcoming Union budgets could further strengthen tractor demand.
The total year-to-date exports for fiscal year 2025 reached 13,548 units, showing a 28% growth compared to 10,561 units in the previous fiscal year. Overall, the company's combined domestic and export year-to-date sales totaled 364,180 units, representing a 10% increase from 330,690 units in the corresponding period of fiscal year 2024.