Mahindra & Mahindra Tractor Sales Up 2% in September

Mahindra & Mahindra (M&M) Ltd reported a 2% increase in tractor sales for September 2024, with domestic sales up by 3% and exports down by 10%. Improved monsoon rainfall and reservoir levels have boosted rural sentiments, leading to expectations of robust future demand for tractors.

Mahindra & Mahindra (M&M) Ltd announced a 2% rise in tractor sales for September 2024, totaling 44,256 units compared to 43,210 units sold in the same month last year.

Domestic sales also saw a 3% increase to 43,201 units from 42,034 units in September 2023, although exports witnessed a 10% dip, falling to 1,055 units from last year’s 1,176 units, the company reported.

Hemant Sikka, President of the Farm Equipment Sector at M&M Ltd, attributed the positive trend to a 7.5% increase in monsoon rainfall over the long period average, which has significantly boosted kharif crop sowing. Improved reservoir levels, now 13% higher than the LPA, also bode well for a thriving rabi crop. These factors, along with favorable trade terms for farmers and upcoming festivals, are expected to drive strong future demand for tractors.

(With inputs from agencies.)