Auto Sales March 2022: Mahindra Farm Equipment Records 6 Per Cent Sales Decline In Domestic Market

Mahindra has recorded a sales decline of 6 per cent in its farm equipment business selling 28,112 units in the domestic market as compared to 29,817 units which were sold in the domestic market in the same month last year. The company's exports in March 2022 went up by 43 per cent, selling 1,651 units as compared to 1,153 units exported in the same month last year. On cumulative basis, Mahindra sold 29,763 units in March 2022 recording a sales decline of 4 per cent when compared to 30,970 units sold in the same month a year ago.

Also Read: Auto Sales March 2022: Mahindra's Passenger Vehicle Sales Grow 65% YoY, At 27,603 Units

Mahindra's exports in March 2022 went up by 43 per cent selling 1,651 units.

Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 28,112 tractors in the domestic market during March 2022. Record procurement of Kharif acreage, substantial increase in exports of agricultural products like wheat, sugar and cotton will help improve the financial position of the farmers leading to better cash flow in the rural market to help boost tractor demand going forward. Acreage of kharif crop has already crossed last year's levels, which augurs well for agri incomes. This will get a further boost with early forecast of a normal monsoon. In the exports market, we have sold 1651 tractors, a growth of 43 per cent over last year."

On year-to-date (YTD) basis, Mahindra Farm Equipment recorded a sales decline of 2 per cent selling 3,37,052 units in January 2022 - March 2022 period as compared to 3,43,833 units sold in the same period a year ago. The company exported 17,646 units sold in the same period recording a growth of 65 per cent when compared to 10,665 units exported in the January 2021 - March 2021 period. Cumulatively, the company sold 3,54,698 units in the January - March period this year recording a flat growth when compared to 3,54,498 units sold in the same period a year ago.