Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, on Monday announced its tractor sales numbers for December 2023, the company announced through an exchange filing.
Domestic sales in December 2023 were at 18,028 units, as against 21,640 units during December 2022.
Total tractor sales (Domestic + Exports) during December 2023 were at 19,138 units, as against 23,243 units for the same period last year. Exports for the month stood at 1,110 units.
Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said “We have sold 18,028 tractors in the domestic market during December 2023. Retail momentum slowed down on account of tapering of agricultural activities, which is the norm in the month of December. Announcement of higher horticulture production and continued Government support to the agri sector are expected to support tractor demand. In the exports market, we have sold 1,110 tractors.”
Farm Equipment Sector Summary
In December 2023, the Farm Equipment Sector displayed a 17 percent decrease in domestic sales, reaching 18,028 units compared to 21,640 units in December 2022. Cumulative domestic sales for December showed a marginal decrease of 2 percent, totaling 2,97,1576 units in 2023 compared 3,03,664 units in the previous year. Exports experienced a decline of 31 percent, with 1,110 units exported in December 2023 compared to 1,603 units in the same period last year. Cumulative exports for December reported a substantial 32 percent decrease, amounting to 9,585 units in 2023 compared to 14,150 units in 2022.
Overall, the total sales for December showed a 18 percent decrease, reaching 19,138 units compared to 23,243 units in December 2022. Cumulatively, the total sector sales reflected a 3 percent decrease, totaling 3,06,742 units in 2023 compared to 3,17,814 units in the previous year.
