Auto Sales April 2022: Mahindra's Farm Equipment Sector Sees 51% YoY Growth In Domestic Sales

Mahindra & Mahindra's Farm Equipment Sector (FES) has released the monthly sales numbers for April 2022. Last month, the company sold 39,405 units in India, a growth of 51 per cent compared to the 26,130 units sold in April 2021. At the same time, in April 2022, the company exported 1,534 tractors from India witnessing a growth of 10 per cent against the 1,393 units exported during the same month in 2021. On a cumulative basis, Mahindra's FES sold 40,939 tractors in April 2022, registering a growth of 49 per cent compared to 27,523 vehicles sold during the same month a year ago.

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Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "Our business witnessed strong growth with demand drivers staying on course. Rabi harvesting has progressed well across markets. Amidst the ongoing global situation and high exports of wheat from India, demand for Indian wheat crop has been very high and this has led to farmers getting higher prices in the open market for their produce than MSP. Furthermore, oilseeds are fetching higher market price in the domestic market. Both IMD and Skymet have forecasted a normal monsoon for this year, and this bodes very well for the upcoming Kharif season and will support continued growth for the tractor industry."

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Compared to the 29,763 units sold in March 2022, domestic + exports, the company saw a growth of 40 per cent in April 2022

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As for the month-on-month difference, compared to the 29,763 units sold in March 2022, domestic + exports, the company saw a growth of 40 per cent in April 2022. In March 2022, Mahindra's domestic sales stood at 28,112 units, while export sales reached 1,651 units. Compared to these numbers, Mahindra saw a 40 per cent MoM growth in domestic sales in April, however, exports saw a decline of 7 per cent.