Mumbai: In September 2024, Mahindra & Mahindra (M&M) Ltd reported a 2 per cent growth in tractor sales, with 44,256 units sold compared to 43,210 units in September of the previous year. The company reported that domestic sales in the previous month increased by 3 percent to 43,201 units from 42,034 units sold in September 2023, while exports decreased by 10 percent to 1,055 units from 1,176 tractors shipped abroad last year.
An increase of 7.5 per cent in monsoon rainfall compared to the long period average has resulted in a rise in kharif sowing for all crops except cotton. "The reservoir levels have rebounded dramatically and are currently 13 pc above the long period average (LPA), which is a promising sign for a successful rabi crop," stated Hemant Sikka, President of the Farm Equipment Sector at Mahindra & Mahindra Ltd.
Due to a successful kharif crop and the promising rabi crop ahead, rural attitudes are optimistic. He mentioned that the company anticipates strong tractor demand in the future given the favorable terms of trade for farmers and upcoming festivals.
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