Mahindra & Mahindra April tractors sales remain muted

Mahindra & Mahindra's farm equipment sector sold 37,039 tractors in month of April 2024 compared to 36,405 units in April 2023, recording a growth of 2%. Domestic tractors sales were at 35,805 units, higher by 1%. Exports rose 23% to 1,234 units over last year.

Commenting on the performance, Hemant Sikka, President Farm Equipment Sector, Mahindra & Mahindra Ltd. said We have sold 35805 tractors in the domestic market during April 2024, a growth of 1% over last year. Government's Wheat procurement operations are going on in full swing with good mandi arrivals, keeping the rural cash flows healthy. IMD's forecast of above normal monsoon rains and festivals in the month of April have helped bring positivity in the rural sentiments. Terms of trade continue to stay positive and good cash flows from Rabi harvest are likely to boost tractor demand in the coming months. In the exports market, we have sold 1234 tractors a growth of 23% over last year.

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