Mahindra & Mahindra revealed the August 2023 tractor sales report. The company sold 20,647 tractors in August 2023 as compared to 20,138 Mahindra tractor in August 2022 in the Domestic market. Mahindra's domestic tractor sales data for 2023 shows an increase of 3%. At the same time, Mahindra's Tractor Sales Report for August 2023 presents a 26% decline in the Export market. This is due to the sale of 1,029 tractors in August 2023 in the Export market as compared to 1,382 tractors sold in August 2022.
Mahindra Tractor Sales Data August 2023
|Particulars||August 2023||August 2022||%Growth|
Mahindra & Mahindra also presented the Year to Date (YTD) Tractor sales report for 2023. The company sold 156,690 tractors in 2023 as compared to 155,205 tractors in 2022 in the Domestic market. Mahindra domestic tractor sales data for 2023 observes a 1% increase. On the other hand, Mahindra's Year-To-Date Tractor Sales Report 2023 presents a 36% decrease in sales in the Export market.
Mahindra Tractor Sales in India - Year-to-Date Report
|Particulars||Year to Date FY’24||Year to Date FY’23||%Growth|
Hemant Sikka, President of Farm Equipment Sector, M&M Ltd. said while highlighting the performance,
"We are happy to report a growth in tractor sales in the domestic market in August. This is despite the 9% monsoon deficit at the end of August. Kharif sowing is largely on track and has shown an improvement over last year for all key crops except pulses. Terms of trade continue to be favourable for the farmer, with inputs inflation cooling off and crop prices holding firm. With the upcoming festive season, we expect tractor demand to grow in the coming months."
M&M sold 1,029 units in the export market in August 2023 as well, witnessing a 26% decrease as compared to the previous year. The decline in export sales of Mahindra tractors is the result of the ongoing trade war between China and the US.