Auto Sales September 2022: Mahindra Farm Equipment Records Highest Ever Monthly Sales; 21 Per Cent Growth

Mahindra Farm Equipment recorded its highest ever monthly sales in September 2022. It registered a year-on-year (YoY) sales growth of 21 per cent in last month selling 48,713 units of tractors as compared to 40,331 units sold in the same month a year ago. The company sold 47,100 units in the domestic market registering 21 per cent uptick when compared to 39,053 units sold in September last year. Its exports went up by 26 per cent at 1,613 units as compared to 1,278 units sold in the same month last year.

Also Read: Auto Sales September 2022: Mahindra Posts Utility Vehicle Sales Of 34,262 Units, Highest In A Month

Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra said, "We have sold 47,100 tractors in the domestic market during September 2022, a growth of 21 per cent over last year. This is our highest ever sale in a month. Demand remained strong during the month owing to festive boost, which we expect to continue in October as well. With Kharif crop harvest starting soon and crop prices holding firm, the sentiment is positive. Above normal monsoon has improved the reservoir levels, leading to high moisture content in the soil, which is very positive for higher food grain production in the upcoming Rabi season. In the exports market, we have sold 1613 tractors with a growth of 26 per cent over last year".

As far as year-to-date (YTD) sales are concerned, in the April 2022 - September 2022 period the company recorded a growth of 12 per cent selling 2,12,049 units as compared to 1,88,849 units sold in the corresponding period last year. It recorded 12 per cent growth in the domestic market as well selling 2,02,305 units as compared to 1,80,667 units sold in the same period last year. Its exports in the April 2022 - September 2022 period went up by 19 per cent selling 9,744 units as compared to 8,182 units sold in the same period a year ago.