Mahindra Tractor October 2024 Sales Report: 65,453 Units, 30% Growth

Key Highlights

• 64,326 tractors sold domestically in October 2024, a 30% increase.
• Total sales, including exports, reached 65,453 units.
• Year-to-date domestic sales are up by 9%.
• Export sales grew by 30% year-to-date.
• Favorable monsoons, good crop yields, and government policies support strong demand.

Mahindra & Mahindra Ltd.’s Farm Equipment Sector announced record-breaking tractor sales for October 2024. The company sold 64,326 tractors in India, up 30% from the 49,336 units sold in October 2023. Including exports, the total sales for October reached 65,453 units, marking a significant rise from last year’s 50,460 units. Exports for October stood at 1,127 tractors.

Also Read: Mahindra Tractor September 2024 Sales Report: 44,256 Units, 3% Growth

Mahindra's October 2024 Tractor Sales

Year-to-Date Sales Show Positive Growth

In the year-to-date (YTD) period, Mahindra’s domestic tractor sales climbed to 270,562 units, up 9% from 248,060 units last year. Export sales for the YTD period also saw impressive growth, with 9,740 units sold, a 30% increase compared to 7,470 units in 2023.

Mahindra Tractor YTD Sales Summary

Hemant Sikka, President of Mahindra’s Farm Equipment Sector, attributed this strong performance to favorable factors like a good monsoon, a strong Kharif crop, and the government’s increased minimum support price (MSP) for key Rabi crops. Additionally, the festive season has boosted demand, and Sikka expects this positive trend to continue in the coming months.

Also Read: Mahindra Arjun 605 DI 4WD Tractor Launched: Aimed at North Indian Farmers

CMV360 Says

Mahindra's impressive 30% sales growth in October 2024 highlights strong market demand fueled by favorable agricultural conditions and festive buying. With robust domestic and export figures, Mahindra is well-positioned for continued momentum. Leadership attributes this success to supportive government policies, good harvests, and high reservoir levels, setting a positive outlook for the months ahead.