Mahindra Tractor Sales Report: Sold 18,028 Units, a 17% Decline in December 2023

In the latest report released by Mahindra & Mahindra, December 2023 witnessed the sale of 18,028 units in the domestic market, marking a decrease from 21,640 units sold in December 2022. This accounts for a notable 17% decline in the company's domestic tractor sales throughout 2023.

Moreover, the export market also experienced a downturn as Mahindra's tractor sales recorded a 31% decrease. Specifically, the company sold 1,110 units in December 2023 in contrast to the 1,603 units sold during the same period in 2022.

The overall sales of Mahindra tractors were 19,138 in December 2023 compared to 23,243 in December 2022, an 18% decrease in sales.

December 2023- Sales Data of Mahindra Tractors

| Particulars | December 2023 | December 2022 | Change % ||:-----------:|:-------------:|:-------------:|:--------:|| Domestic | 18,028 | 21,640 | -17% || Exports | 1,110 | 1,603 | -31% || Total | 19,138 | 23,243 | -18% || Total | 74,605 | 78,525 | -5.0% |

Additionally, Mahindra & Mahindra revealed the Year to Date (YTD) tractor sales statistics for 2023 from April to December. In the domestic market, the company sold 2,97,157 units in 2023 compared to 3,03,664 units in 2022. The company reports a 2% decline in domestic tractor sales for 2023. However, Mahindra's YTD Tractor Sales Report 2022 indicates a 32% decrease in the export market.

Year to Date Summary-

| Particulars | Year to Date FY’24 | Year to Date FY’23 | Change % ||:-----------:|:------------------:|:------------------:|:--------:|| Domestic | 2,97,157 | 3,03,664 | -2% || Exports | 9,585 | 14,150 | -32% || Total | 3,06,742 | 3,17,814 | -3% || Total | 74,605 | 78,525 | -5.0% |

Hemant Sikka, President of M&M Ltd.'s Farm Equipment Sector, commented on the performance, saying, “We have sold 18,028 tractors in the domestic market during December 2023. Retail momentum slowed down on account of tapering of agricultural activities, which is the norm in the month of December. Announcement of higher horticulture production and continued Government support to the agri sector are expected to support tractor demand. In the exports market, we have sold 1,110 tractors.”

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