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Mahindra's Farm Equipment Sector records strong Tractor Sales in October

Nov 1, 2023

By: BlinkX Research Team

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES) has reported its tractor sales figures for October 2023. In the domestic market, 49,336 units were sold, a slight decrease from 50,539 units in October 2022. The total tractor sales, including both domestic and exports, reached 50,460 units, compared to 51,994 units in the same period last year. The export market accounted for 1,124 units.

Hemant Sikka, President of the Farm Equipment Sector, Mahindra & Mahindra Ltd., noted, "We have achieved sales of 49,336 tractors in the domestic market for October 2023. Positive sentiments among farmers during the ongoing festive season, driven by higher aggregate kharif production, increased MSP for key Rabi crops, and sustained government support to the agricultural economy, have bolstered tractor demand. In the exports segment, we have sold 1,124 tractors."

Despite a slight dip in domestic sales compared to the previous year, Mahindra's Farm Equipment Sector remains optimistic about the positive trends in the agricultural sector, anticipating continued growth in the coming months.