November 1st 2023.
Mahindra & Mahindra Ltd.’s Farm Equipment Sector, part of the renowned Mahindra Group, recently announced its tractor sales numbers for October 2023. The company made the announcement through an exchange filing.
Domestic tractor sales in October 2023 were 49,336 units, which was slightly lower than the 50,539 units sold in October 2022. Total tractor sales during October 2023 reached 50,460 units, a decrease from the 51,994 sold in the same period last year. Exports for the month were 1,124 units.
Hemant Sikka, President of the Farm Equipment Sector, expressed his thoughts on the numbers. He said, “We’re pleased with the sales in the domestic market during October 2023. Higher aggregate kharif production, higher MSP for key Rabi crops, and the government’s continued support to the agri economy in H2 of this year has led to positive sentiment among farmers during the festive season, which is in turn driving tractor demand. In the exports market, we’ve sold 1,124 tractors.”
When it comes to the Mahindra & Mahindra Ltd. shares, it was up by 0.66 percent at 11:32 am IST, with prices at Rs 1,468.20. Meanwhile, the company’s auto sales grew by 32%, with 80,679 units sold in October 2023.
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