Tractor Sales July 2023: Mahindra, Sonalika And Escorts Record Growth

Mahindra & Mahindra

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group, recently announced its tractor sales numbers for July 2023. Domestic sales in July 2023 were 24,168 units, as against 21,684 units in July 2022. Total tractor sales (Domestic + Exports) during July 2023 were at 25,175 units, as against 23,307 units for the same period last year. Exports for the month stood at 1,007 units.

Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 24168 tractors in the domestic market during July, with a growth of 11% over last year. The cumulative seasonal rainfall spread across the country has recovered very well in the month of July, and this has helped the sowing of kharif acreage to pick up momentum. Aggregate sowing of Kharif crops is now ahead of last year, with most key crops including paddy and oil seeds having recovered, though pulses are still lagging in sowing. Terms of trade are now in favour of farmers, with continued decrease in input costs. The sentiments are positive in the rural economy, and this is likely to support demand in the coming months. In the exports market, we have sold 1007 tractors”.

Sonalika

Sonalika Tractors recorded an overall sales of 10,683 tractors in July 2023 which includes 14% domestic growth. Owing to this, Sonalika has also surpassed the 50,000 cumulative tractor sales mark in 4 months of FY2024 (Apr-July 2023).

Raman Mittal, Joint Managing Director, International Tractors Limited, said, “We are delighted to have farmer’s admiration for our heavy-duty tractor range that has enabled us to record 10,683 overall tractor sales in July’23. With 14% domestic growth, we have beaten industry growth (est. 6.4%) and powered past the 50,000 cumulative tractor sales mark in just 4 months (Apr-July’23). Receiving such love for our brand inspires us to ‘be better than our best’ every time and rapidly customise advanced farm technologies as per the regional needs of Indian farmers. Delivering farmer happiness is the core at ITL and the same will always remain an integral part of every new innovation undertaken by us. Creating awareness and supporting the adoption of farm mechanisation is our top priority as it will help farmers progress faster towards prosperity.”

Escorts Kubota

Escorts Kubota Limited Agri Machinery Business Division in July 2023 sold 5,570 tractors up by 3.9% as against 5,360 tractors sold in July 2022. Domestic tractor sales in July 2023 were at 5,161 tractors up by 9.7 per cent against 4,704 tractors sold in July 2022. The company expects the retail demand to pick up during the upcoming festive months starting in September. Export tractor sales in July 2023 were at 409 as against 656 tractors sold in July 2022.