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Mahindra & Mahindra released the February 2024 Tractor Sales Report. The brand sold 20121 tractors in February 2024 as opposed to 24619 tractors in February 2023 in the domestic tractor market. This way, Mahindra's domestic tractor sales figures for 2024 observe an 18% decline. At the same time, the February 2024 Mahindra Tractor Export Sales Report shows a rise of 32%. The brand sold 1551 tractors in February 2024 in the Export market, which was 1172 tractors in February 2023.
Mahindra tractor total sales registered 21672 tractors sold in February 2024 as compared to 25791 tractors in February 2023, marking a 16% decrease in sales.
| Particulars | February 2024 | February 2023 | Change % |
| Domestic | 20121 | 24,619 | -18% |
| Exports | 1551 | 1,172 | 32% |
| Total | 21672 | 25,791 | -16% |
Mahindra & Mahindra also presented the Year to Date (YTD) April to February Tractor sales data for 2024. The brand sold 340250 tractors in 2024 in comparison to the 355909 tractors sold in the Domestic market in 2023. Mahindra’s domestic tractor sales data for 2024 shows a decline of 4%. Moreover, Mahindra's YTD Tractor Sales Report of 2024 shows a 27% decline in the export market.
| Particulars | Year to Date FY’24 | Year to Date FY’23 | Change % |
| Domestic | 340250 | 355,909 | -4% |
| Exports | 12112 | 16,622 | -27% |
| Total | 352362 | 372,531 | -5% |
*Exports include CKD
Hemant Sikka, President – Farm Equipment Sector, M&M Ltd., said, while highlighting the performance, “We have sold 20121 tractors in the domestic market during February 2024. Southern and western states continue to face agri-stress due to erratic and deficient monsoon. However, the Rabi crop outlook is very good, with the wheat crop likely to be a bumper crop. Harvesting has started in a few states with the government supporting early procurement of wheat crops. Continued government support through various rural schemes and enhanced institutional credit will further help boost tractor demand going forward. In the export market, we have sold 1551 tractors, a growth of 32% over last year.”
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