M&M Tractor Sales: 11% Decline in Domestic Market, 27% in Exports for September 2023

Mahindra & Mahindra, a key player in the tractor manufacturing sector, recently announced its Tractor Sales Report for September 2023, shedding light on divergent trends in the domestic and export segments. While the company faced an 11% decline in domestic sales compared to September 2022, the export market reported a more significant 27% drop. This disparity reflects complexity  in the agricultural machinery industry, with implications for both the company and the broader market.

Domestic Sales-11 % Decline

In September 2023, Mahindra & Mahindra reported the sale of 42,034 tractors in the domestic market, reflecting an 11% decrease compared to the 47,100 units sold in September 2022.

Hemant Sikka, President of the Farm Equipment Sector at Mahindra & Mahindra Ltd., mentioned that this dip was partly due to a smart recovery in Kharif sowing covering over 110 million hectares.

Export Market Decline- 27% Drop

In terms of the export market, Mahindra's Tractor Sales Report for September 2023 indicates a significant 27% reduction. This is evidenced by the company's sale of 1,176 units in September 2023, which marks a decline from the 1,613 units sold in the same month of the previous year.

Mahindra Tractor Sales Report- September 2023

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Mahindra & Mahindra Year to Date (YTD) Tractor Sales Report

In the Year to Date (YTD) Tractor Sales Report for 2023, Mahindra & Mahindra has released that the company reported sales of 198,724 units in 2023, reflecting a 2% decrease compared to the 202,305 units sold in 2022. In the export market, Mahindra's YTD Tractor Sales Report for 2022 reveals a substantial 35% decline, with the company selling 1,176 units in September 2023, in contrast to the 1,613 units sold in September 2022.

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Hemant Sikka, President of the Farm Equipment Sector at Mahindra & Mahindra Ltd., added that the satisfactory rainfall in September has contributed to achieving monsoon levels close to normal, which is expected to facilitate Rabi crop sowing, notably in the Central, Northern, and Western regions of the nation. He also said that the commencement of the festive season is anticipated to boost farmer morale. He also mentioned that the company has successfully marketed 1,176 tractors in the export market.

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