Dailymiorror.News,Mumbai, December 3rd, 2024: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, has announced its tractor sales figures for November 2024.

In the domestic market, Mahindra sold 31,746 tractor units in November 2024, marking a 2% increase from 31,069 units sold in November 2023.

The total sales, including both domestic and export markets, reached 33,378 units in November 2024, up from 32,074 units during the same period last year. Exports for the month accounted for 1,632 units, showing an impressive 62% growth compared to the previous year.

Hemant Sikka, President of Mahindra’s Farm Equipment Sector, commented, “We are pleased to report a 2% increase in domestic tractor sales, with 31,746 units sold in November 2024. The completion of the Kharif harvest season and the ongoing Rabi sowing season have helped sustain farmer confidence.

The slight decline in overall industry growth can be attributed to the shift in the festive season, with Diwali and Dhanteras falling later this year compared to last year. However, strong reservoir levels and favorable Minimum Support Prices (MSP) for key Rabi crops have bolstered farmer sentiment, with healthy cash flows.

With good progress in Rabi sowing and an expected strong Rabi crop, we anticipate a further boost in tractor demand in the coming months. In the export market, our sales of 1,632 units reflect a 62% growth, underscoring the global demand for Mahindra tractors.”

Farm Equipment Sector Summary    
 NovemberYTD November 
 F25F24% ChangeF25F24% Change
       
Domestic31746310692%3023082791298%
       
Exports1632100562%11372847534%
       
Total33378320744%3136802876049%