M&M’s FES sales of tractor up 1 percent

Mahindra & Mahindra’s Farm Equipment Sector (FES), part of the Mahindra Group said its domestic sales in August 2022 were at 20138 units, as against 19997 units during August 2021, which is one percent.

Total tractor sales (Domestic and Exports) during August 2022 were at 21520 units, as against 21360 units for the same period last year. Exports for August alone stood at 1382 units, an increase of one percent.

The FES’ YTD sales in the domestic market rose 10 percent to 155,205 units as against 141,614 units.

Hemant Sikka, President, Farm Equipment Sector, M&M said, “We have sold 20138 tractors in the domestic market during August 2022, with a growth of 1 percent over last year. Monsoons have been overall positive with 8 percent higher than LPA, however the spatial distribution has been deficient in key paddy states of eastern India, thus impacting paddy sowing.  We are optimistic that tractor purchases on auspicious days in the festive season will lead to revival in demand, as farmers start preparation for harvesting.We are preparing for strong tractor demand in the festive season.”