Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of Mahindra Group, has released its tractor sales figures for December 2024. The company reported a 22% increase in domestic sales which were at 22,019 units, compared to 18,028 units in December 2023. Total tractor sales (domestic and exports) were at 22,943 in December, compared to 19,139 units for the same period last year, and exports for the month stood at 924 units, according to the company news release issued Jan. 1, 2025.
Also in December, the company published its Year-to-Date (YTD) tractor sales data, showing that the company's domestic sales increased by 9% in 2024, selling 324,327 units as opposed to 297,157 units in 2023.
The report further shows that a total of 22,943 tractors were sold in December overall, including exports, compared to 19,138 units sold at the same time last year. Exports for the month were 924 units, which compares to 1,110 units sold in Dec 2023, reflecting a 17% decrease.
Export Sales Performance Increase 28%
The Tractor Junction summary also noted that the company reported export sales experienced a 28% increase for the year, according to its 2024 Year-to-Date Tractor Sales Report, reflecting a substantial increase in the Mahindra’s overall export performance. In December 2024, the company's export sales hit 12,296 units, up from 9,585 units in December 2023. In December 2024, Mahindra sold 336,623 units overall, up 10% from 306,742 units sold in the same month last year.
“Looking ahead, the tractor industry is poised for significant growth, underpinned by positive agricultural sentiments and favourable terms of trade for farmers. In the exports market, we have sold 924 tractors,” says Hemant Sikka, President -Farm Equipment Sector of Mambia, India-based Mahindra & Mahindra Ltd.
