Dibakar Yadav || New Delhi || 3rd May 2022
Mahindra & Mahindra (M & M) announced on Monday that its overall tractor sales for April 2022 rose by 49% year-on-year to 40,939 units.
In the preceding month, tractor sales in the domestic market increased by 51% to 39,405 units, up from 26,130 tractors sold a year ago.
It also stated that sales in the international market increased by 10% to 1,534 tractors, from 1,393 tractors the previous month.
Drivers of growth remained on line, resulting in solid expansion for the company. Rabi harvesting is going well in most markets, Mahindra & Mahindra’s President – Farm Equipment Sector, Hemant Sikka, stated.
In view of the current global circumstances and large wheat exports from India, Sikka noted that demand for the Indian wheat harvest has been incredibly high, leading to producers receiving higher open market prices for their produce than MSP.
Oilseeds are also fetching greater market prices in the local market. This year’s rainfall is expected to be typical by both IMD and Skymet, which bodes well for the forthcoming Kharif season and will tune up tractor industry growth, Sikka added.
According to experts in the field, a high Rabi crop and better cash flow for farmers could help tractor sales down the road.