Mahindra & Mahindra, a big name in the tractor industry, shared their sales report for March 2024. The report says domestic sales fell, with only 24,276 tractors sold this March compared to 33,622 in March 2023, a drop of 28%. But there's good news from the export market. Mahindra Tractors sold 1,748 tractors in March 2024, up 26% from 1,392 units in March 2023.
However, Mahindra's overall tractor sales faced a setback in March 2024, with 26,024 units sold, down from 35,014 units in March 2023, indicating a decline of 26%. Looking at the year-to-date (YTD) tractor sales from April to March 2024, Mahindra & Mahindra reported a decrease.
| Particulars | March 2024 | March 2023 | Change % |
| Domestic | 24276 | 33622 | -28% |
| Exports | 1748 | 1392 | 26% |
| Total | 26024 | 35014 | -26% |
Domestic sales dropped by 6%, with 364,526 units sold in 2024. This is in comparison to the 389,531 units sold in 2023. The export market also witnessed a downturn, with a 23% decrease in YTD tractor sales for 2024, totalling 13,860 units compared to 18,014 units in 2023.
| Particulars | Year to Date FY’24 | Year to Date FY’23 | Change % |
| Domestic | 364526 | 389531 | -6% |
| Exports | 13860 | 18014 | -23% |
| Total | 378386 | 407545 | -7% |
*Exports include CKD
Hemant Sikka, President of Mahindra & Mahindra Ltd.'s Farm Equipment Sector, highlights the company's performance. He states that "In March 2024, our domestic sales totalled 24,276 tractors. The recent government announcement of elevated estimates for horticulture production and augmented Rabi wheat output compared to last year is anticipated to strengthen farmer morale.
Additionally, the forecast of a normal Southwest monsoon this year is anticipated to drive up tractor demand in the coming months. In addition, " He also states that, “In the export market, we witnessed a growth of 26%, with 1,748 tractors sold compared to last year."
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