Auto Sales December 2022: Mahindra Sells 23,243 Tractors, Sees 27 % Growth

Mahindra Farm Equipment Sector (FES) has released the monthly tractor sales numbers for December 2022. Last month, the company’s total sales stood at 23,243 units, witnessing a year-on-year growth of 27 per cent compared to the 18,269 tractors sold in December 2021. In December 2022 company’s domestic sales for the month stood at 21,640 units, a rise of 30 per cent compared to the 16,687 tractors sold during the same month in 2021. Exports on the other hand remained flat at 1603 units, a growth of 1 per cent compared to the 1,582 tractors exported in December 2021.

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Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 21,640 tractors in the domestic market during December 2022, a growth of 30% over last year. Rabi crop sowing has progressed very well and is higher than last year acreage and also higher than the average of last 5 years. Wheat and oil seeds are expected to be bumper harvest. On the back of strong Rabi sowing, good kharif procurement and likely exports of wheat, the sentiments continue to remain upbeat in the farming sector, leading to strong demand for tractors and farm implements. In the exports market, we have sold 1,603 tractors, a growth of 1 per cent over last year.”

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Mahindra’s domestic sales for December 2022 stood at 21,640 units, a rise of 30 per cent compared to the 16,687 tractors sold in December 2021.

As for the company’s year-to-date (YTD) performance, in the first three quarters of Financial Year 2022-23, Mahindra FES’ total tractor sales stood at 3,17,814 units. Compared to the 2,81,816 units sold between April and December 2021, the company witnessed a growth of 13 per cent. Mahindra reported similar growth in domestic sales for the same period in 2022. Between April and December 2022, the company sold 3,03,664 tractors in India, as against 2,68,868 units sold during the same period in 2021.

At the same time, YTD exports grew by 9 per cent at 14,150 units compared to the 12,948 tractors that were exported during the first three quarters of FY2022. The export numbers also includes CKD (Completely Knocked Down) units exported from India.