Auto Sales January 2022: Mahindra Sees 37% Drop In Domestic Tractor Sales, But Exports Rise 25% YoY

Mahindra & Mahindra's Farm Equipment Sector (FES) has released its tractor sales numbers for January 2022. Last month the company's total tractor sales (Domestic + Exports) stood at 22,682 units, a 35% decline compared to the 34,778 tractors sold in January 2021. As for the domestic market, in January 2022, Mahindra sold 21,162 units in India, witnessing a massive 37 per cent decline compared to the 33,562 tractors sold during the same month last year. Having said that, export sales offered a silver lining to what was mostly a dark cloud situation for Mahindra. Last month the company exported 1,520 units from India, a healthy growth of 25 per cent, compared to 1,216 tractors exported in January 2021.

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In January 2022, Mahindra exported 1,520 units from India, a healthy growth of 25 per cent, compared to 1,216 tractors exported in January 2021

the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra said, "We have sold 21162 tractors in the domestic market during January 2022. On the back of good rainfall and high moisture content in the soil, Rabi sowing has been very good, and this bodes very well for a bumper crop harvest. Continued Government focus on agriculture, rural infrastructure and higher cash flows with rabi harvest, will lead to positive sentiments and an increase in tractor demand. In the exports market, we have sold 1520 tractors, registering a growth of 25% over last year."

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As for year to date (YTD) performance, between April 2021 and January 2022, the company's total sales stood at 3,04,498 units. Compared to the 2,95,382 tractors sold during the same period in FY2021, the company saw a growth of 3 per cent YoY. During the same period in FY2022, Mahindra saw a 1 per cent growth in the domestic market, while exports saw a massive 69 per cent growth at 14,468 units.