Mahindra’s farm equipment sector sells 22,843 units in India during May 2021

Mumbai, 1 June 2021

Mahindra & Mahindra Ltd’s Farm Equipment Sector (FES), a part of the USD 19.4-billion Mahindra Group, today announced its tractor sales numbers for May 2021, which indicate a clear growth path in the upcoming season.

According to a press release issued by the company, its domestic sales during May 2021 were at 22,843 units, as against 24,017 units during May 2020. But this shortfall in domestic sales has nearly been made up by the dramatic growth in exports. During May 2021, exports stood at 1,341 units — a growth of 314% over the corresponding period last year. The exports during May 2020 had stood at 324 units.

As per the release, if we combine the domestic sales and exports, the total tractor sales during May 2021 stood at 24,184 units, marginally lower than the 24,341 units for the same period last year.

Going by the data shared in the press release, the cumulative figures for FY22 (taking April and May 2021 together) are all the more promising. The domestic sales in FY22 stood at 48,973 units, 70% higher than the 28,733 units sold in the corresponding year-ago period. Exports have performed still better. As of May 2021, a total of 2,734 units has been exported in FY22, a 619% rise from the 380 units sold in FY21 in the corresponding period.

If we combine the domestic sales and exports, the total tractor sales for the two months during FY22 stood at 51,707 units, 78% more than the 29,113 units for the same period in FY 21.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd, said, “We have sold 22,843 tractors in the domestic market during May 2021. In May, Covid spread in rural markets led to stringent lockdowns, leading to deferment of tractor purchase and limited operations at dealerships. While state-specific lockdowns and localized restrictions continue, it is heartening to see the Covid cases reducing sharply. This is leading to sharp improvement in farmer sentiments and green shoots of recovery are visible, especially since last week, as farmers start preparing their land for upcoming Kharif crop season. A bumper Rabi harvest, record procurement, food prices holding up, gradual opening up of Mandis and expectations of a normal monsoon will pave the way for growth in the upcoming season. In the exports market, we have sold 1341 tractors with a growth of 314% over last year.”

*Exports include CKD

The Mahindra Group is a USD 19.4-billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company by volume.  It also enjoys a strong presence in renewable energy, agribusiness, logistics and real estate development. Headquartered in India, Mahindra employs over 2,56,000 people across 100 countries.