Mahindra & Mahindra Ltd. has recently issued its report on tractor sales for March 2023. The report reveals that the total number of Mahindra tractors sold in March 2023 was 35014 units, an increase from 29763 in March 2022. The overall sales data for March 2023 indicates a significant rise of 18% in Mahindra sales.
Mahindra's domestic tractor sales have increased significantly by 20% in March 2023 compared to the same month in the previous year. Specifically, the company sold 33,622 units in March 2023, up from 28,112 in March 2022.
In the fiscal year of 2022-2023, Mahindra sold 3,89,531 units in the domestic market, a notable accomplishment. Additionally, the company gained a 1.2% market share in the domestic tractor market.
Furthermore, it is worth noting that Mahindra's tractor sales crossed the 4 lakh units mark in FY '23, which includes export sales. This indicates that Mahindra's tractors are in high domestic and international demand, which is a positive sign for the company.
In March 2023, the number of Mahindra tractors exported was 1392, a decline from the 1651 units recorded in March 2022. This represents a decrease of 16% in the export sales figures.
Mahindra Tractors Sales in India - March 2023
Here’s a brief Mahindra & Mahindra tractor sales report for March 2023.
|Particulars||March 2023||March 2022|| |
Mahindra Tractor Sales in India 2023 - Year to Date Report
This is Mahindra’s tractor sales year-to-date difference between the current and last years.
*Exports consist of CKD
Mahindra's domestic year-to-date sales for 2023 have reached 389,531 units, a 16% increase from the 337,052 units sold in 2022. Regarding exports, Mahindra shipped 18,014 units in 2023, a 2% increase from the 17,646 units exported in 2022.
Hemant Sikka, Farm Equipment Sector President at Mahindra & Mahindra Ltd., stated that they sold 33,622 tractors in the domestic market in March 2023, representing a 20% increase over the previous year. He also mentioned that the growth in crop output, steady mandi prices, government support for increased MSP for major crops, and an increase in wages under the MGNREGA scheme would enhance the financial stability of rural households and boost tractor demand in the coming months. Furthermore, Mahindra has sold 1,392 tractors in the export market.
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