Mahindra Tractor Sales Report November 2024: 33,378 Units Sold, 4% Growth

Key Highlights

• Domestic tractor sales grew 2% to 31,746 units in November 2024.
• Export sales surged 62%, reaching 1,632 units.
• Total tractor sales increased 4% to 33,378 units.
• Year-to-date sales rose 9% to 313,680 units.
• Strong Rabi sowing and positive farmer sentiment boost market confidence.

Mahindra & Mahindra has shared its sales report for November 2024, revealing strong growth in both domestic and export markets. The company sold 31,746 tractors in India, marking a 2% increase compared to 31,069 units sold in November 2023.

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

Export Sales

Mahindra achieved remarkable success in exports, selling 1,632 tractors in November 2024, a massive 62% rise compared to 1,005 units exported in November 2023.

Total Sales Growth

Combining domestic and export sales, Mahindra’s total tractor sales for November 2024 stood at 33,378 units, up from 32,074 units in November 2023. This reflects an overall 4% growth, showcasing the brand's continued success.

Mahindra Tractor Sales Data – November 2024

Year-to-Date Sales Performance

In the first 11 months of FY 2024, Mahindra sold 302,308 tractors in the domestic market, recording an 8% growth compared to 279,129 units during the same period last year.

Exports also showed excellent progress, with 11,372 units sold by November 2024, a 34% increase over 8,475 units sold in 2023.

Overall, the company achieved 313,680 tractor sales (domestic + exports), reflecting a 9% rise compared to 287,604 units last year.

Mahindra Year-to-Date Tractor Sales – FY 2024

Statement from Mahindra

Hemant Sikka, President of Mahindra’s Farm Equipment Sector, expressed optimism about the company’s growth. He said:

"In November 2024, we sold 31,746 tractors in the domestic market, achieving 2% growth compared to last year. With the Kharif harvest complete, farmers are progressing with Rabi sowing. While the industry saw a slight decline due to the shift in festive seasons, positive farmer sentiment, healthy cash flow, good reservoir levels, and higher MSPs for key Rabi crops have boosted confidence. We anticipate strong Rabi sowing and a good harvest to further increase tractor demand. On the export front, we sold 1,632 tractors, marking a 62% growth over last year."

Mahindra & Mahindra’s steady growth highlights its strong position in both Indian and international markets.

Also Read: Escorts Kubota Tractor Sales Report November 2024: 8,974 Tractors Sold, 9.4% Drop

CMV360 Says

Mahindra & Mahindra continues to show strong growth in tractor sales, driven by positive domestic demand and exceptional export performance. With a 4% overall sales increase in November 2024 and 9% YTD growth, the company’s outlook remains promising, supported by robust farmer sentiment and favorable agricultural conditions.