Mahindra & Mahindra recorded 11% growth in tractor sales. | Tech US News

Mahindra & Mahindra Farm Equipment sector sold 51,994 tractors in the month of October 2022 as against 47,017 tractors in October 2021, registering a growth of 11%. Exports declined by 9 percent to 1,455 tractors while domestic sales increased by 11 percent to 50,539 tractors.

Commenting on the performance, Hemant Sikka, President, Farm Equipment Sector, Mahindra & Mahindra Limited said, We have sold 50,539 tractors in the domestic market during October 2022, which is 11% higher than last year.

The festive season kept spirits high and led to very strong demand for tractors and farm machinery. The recent government announcement of higher MSP for key rabi crops, good soil moisture, high reserve levels and good progress in sowing of rabi crops are positive for continued good demand for tractors in the coming months. In the export market we have sold 1455 tractors.

Power by Capital Market – Live News

(This story has not been edited by Business Standard staff and is generated automatically from a syndicated feed.)