365Telugu.com online news,Mumbai, November 2nd, 2024: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a division of the Mahindra Group, reported its highest-ever monthly tractor sales in India, reaching 64,326 units in October 2024. This figure marks a substantial increase compared to the 49,336 units sold in October 2023.
The company’s total tractor sales, including both domestic and export markets, reached 65,453 units for October 2024, up from 50,460 units during the same month last year. Of these, exports accounted for 1,127 units.
Hemant Sikka, President of Mahindra & Mahindra Ltd.’s Farm Equipment Sector, commented on the growth: “In October, we achieved domestic sales of 64,326 tractors, reflecting a 30% growth compared to last year.
This impressive growth can be attributed to multiple positive factors, including a strong monsoon, a successful Kharif crop, high reservoir levels that will benefit Rabi crops, and the government’s increase in Minimum Support Price (MSP) for key Rabi crops.
The festive season has also added to positive market sentiment, and we expect strong demand to continue in the coming months. In international markets, we sold 1,127 tractors in October.”
| Farm Equipment Sector Summary | |||||||||||||
| Oct | Cumulative Oct | ||||||||||||
| F25 | F24 | % Change | F25 | F24 | % Change | ||||||||
| Domestic | 64326 | 49336 | 30% | 270562 | 248060 | 9% | |||||||
| Exports | 1127 | 1124 | 0% | 9740 | 7470 | 30% | |||||||
| Total | 65453 | 50460 | 30% | 280302 | 255530 | 10% | |||||||