Mahindra Tractor Sales Fall 21% in September 2026, But YTD Sales Rise 7%

Key Highlights

• Mahindra & Swaraj sold 52,100 tractors in September 2026.

• Domestic sales declined 23% to 50,208 units.

• Tractor exports increased 62% to 1,892 units.

• April-September sales rose 7% to 2,74,068 tractors.

• Festive demand shifting to October impacted September sales.

Mahindra & Swaraj tractors recorded a decline in wholesale sales in September 2026, mainly due to a higher sales base in the same month last year and a shift in the festive season. The company’s Farm Equipment Business (FEB) sold 52,100 tractors during the month, compared with 66,111 tractors in September 2025, marking a 21% year-on-year decline.

However, the broader financial-year performance remained positive. Between April and September 2026, Mahindra and Swaraj sold 2,74,068 tractors, up 7% from 2,57,025 units during the corresponding period last year.
Also Read: Mahindra Tractor Sales August 2026: Sales Rise 5%, Domestic Sales Reach 27,595 Units

Mahindra & Swaraj Domestic Tractor Sales Down 23%

Mahindra and Swaraj together sold 50,208 tractors in the domestic market in September 2026. This was lower than the 64,946 tractors sold in September 2025, resulting in a 23% decline.

The company attributed the weaker September performance to a shift in the festive season to October. September 2025 had also recorded a higher sales base following the GST rate cut, making the year-on-year comparison tougher this year.

Tractor Exports Rise 62%

While domestic sales declined, Mahindra and Swaraj recorded strong growth in exports during September 2026.

The companies exported 1,892 tractors in September 2026, compared with 1,165 units in September 2025. This represents a significant 62% year-on-year increase in exports.

Total Tractor Sales Decline 21% in September

Combining domestic and export sales, Mahindra and Swaraj sold 52,100 tractors in September 2026. In September 2025, total sales stood at 66,111 units.

This resulted in an overall 21% decline in tractor sales during the month. The decline was largely influenced by the high base of September 2025 and the festive demand moving towards October this year.

Mahindra Tractor Sales Grow 7% in April-September 2026

Despite the September decline, Mahindra and Swaraj maintained positive sales growth during the first six months of FY2026-27.

From April to September 2026, the companies sold 2,74,068 tractors, compared with 2,57,025 tractors during the same period in 2025. This represents a 7% increase in year-to-date sales.

Domestic sales during the April-September 2026 period stood at 2,62,872 tractors, up 6% from 2,47,336 units a year earlier. Exports also increased to 11,196 tractors from 9,689 units, registering a 16% growth.

Festive Demand Key for Upcoming Tractor Sales

The September decline comes against a stronger performance for the financial year so far. With the festive season shifting towards October, the coming months will be important for tractor demand.

Mahindra and Swaraj's sales performance will depend on how festive demand and improving rural sentiment support tractor purchases during the remaining months of the year.

Also Read: Escorts Kubota Tractor Sales Fall 16.7% in September 2026; YTD Sales Rise 10%

CMV360 Says

Mahindra and Swaraj reported weaker tractor sales in September 2026, with total volumes falling 21% due to a higher base last year and the festive season shifting to October. However, the April-September performance remained strong, with sales growing 7%. Domestic and export volumes both recorded year-to-date growth. The upcoming festive period will be crucial in determining whether rural demand can sustain the positive sales momentum through the remaining financial year.