Auto Sales August 2022: Mahindra Reports Marginal 1% Growth In Tractor Sales At 21,520 Units

Mahindra & Mahindra’s Farm Equipment Sector (FES) has released the monthly sales numbers for August 2022, during which the company sold 21,520 tractors in total. Compared to the 21,360 units sold during the same month in 2021, the company witnessed a year-on-year (YoY) growth of a marginal 1 per cent. At the same time, as against the 23,307 tractors sold in July 2022, Mahindra reported a month-on-month decline of 7.6 per cent.

As for domestic sales, in August 2022, Mahindra sold 20,138 tractors in India, amounting to a similar 1 per cent growth compared to the 19,997 units sold in August 2021. At the same time, the company exports stood at 1,382 units, again witnessing a 1 per cent growth compared to 1,363 units. However, compared to the 21,684 units sold in July 2022, Mahindra FES saw a 7.1 per cent MoM decline in domestic sales, while MoM exports fell nearly 15 per cent, as against 1,623 units sold in July this year.

Last month, Mahindra sold 20,138 tractors in India, amounting to a similar 1 per cent growth compared to the 19,997 units sold in August 2021.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 20,138 tractors in the domestic market during August 2022, with a growth of 1 per cent over last year. Monsoon has been overall positive with 8 per cent higher than LPA, however, the spatial distribution has been deficient in key paddy states of eastern India, thus impacting paddy sowing. We are optimistic that tractor purchases on auspicious days in the festive season will lead to a revival in demand, as farmers start preparing for harvesting operations. We are preparing for strong tractor demand in the festive season. In the exports market, we have sold 1,382 tractors, a growth of 1 per cent over last year.”

The company’s year-to-date (YTD) performance was much better. Between April and August 2022, Mahindra’s total sales stood at 1,63,336 units, which is a 10 per cent growth compared to the 1,48,518 tractors sold during the first five months of the financial year 2021-22.