M&M tractor sales increased 6% to 44,478 units in June

4 Jul 2023 , 10:08 AM

Mahindra & Mahindra Ltd. announced on Monday that total tractor sales increased by 6% in June, reaching 44,478 units compared to the same month the previous year. According to the statement from Mahindra & Mahindra (M&M), the company sold 41,848 units in June 2022.

The report highlights that domestic tractor sales witnessed a 9% growth last month, with 43,364 units sold, compared to 39,825 units in the same month last year.

However, exports saw a decline of 45%, with 1,114 units sold in June, in contrast to 2,023 units in the same month last year, as reported by the company.

Hemant Sikka, President of the M&M Farm Equipment Sector, informed ET that despite cyclonic disturbances delaying the arrival of the South-West monsoon, it eventually arrived in the final week of June, covering the entire country and bringing relief to farmers for Kharif sowing.

He further stated, ‘As of now, the sowing area for the Kharif crop season is higher than last year and progressing well. Additionally, with record rabi crops, government support through an increase in MSP for all Kharif crops, and improved farmer terms of trade, tractor demand is expected to remain strong.’

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