M&M tractor logs 6% growth in total sales at 44,478 units in June

Mahindra & Mahindra Ltd on Monday reported a 6 per cent growth in total tractor sales at 44,478 units in June, as compared to the same month last year.

The company had sold 41,848 units in June 2022, Mahindra & Mahindra (M&M) said in a statement.

Domestic tractor sales were at 43,364 units last month, as against 39,825 units in the year-ago period, a growth of 9 per cent, it added.

Exports, however, declined 45 per cent at 1,114 units, as compared to 2,023 units in the same month last year, the company said.

M&M Farm Equipment Sector President, Hemant Sikka said though the arrival of South-West monsoon got delayed due to cyclonic disturbances, it has progressed in the last week of June and has now covered the entire country, bringing huge relief to the farmers and aiding in Kharif sowing.

"As on date, aggregate sowing acreage of Kharif crops is ahead of last year's acreage and is progressing at a fast pace.

"In addition, record rabi crops, government support with increase in MSP for all Kharif crops and improving terms of trade for farmers are positive factors that are expected to support tractor demand going forward," he added.