Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES) has reported a substantial 19% year-on-year growth in domestic tractor sales for February 2025, continuing the strong momentum seen in January. According to a press release issued on March 1, the company sold 23,880 tractor units in the domestic market during February, compared to 20,121 units in the same month last year.
Total tractor sales, including exports, reached 25,527 units for the month, marking an 18% increase over the 21,672 units sold in February 2024. Export figures stood at 1,647 units, representing a 6% growth compared to the 1,551 units exported in February last year.
Hemant Sikka, President of the Farm Equipment Sector at Mahindra & Mahindra Ltd., expressed optimism about the market conditions driving this growth. "We have sold 23,880 tractors in the domestic market during February 2025, a growth of 19% over last year. After a good Kharif crop, Rabi crop outlook is also looking positive due to favourable weather conditions," Sikka stated.
He added that several factors are expected to sustain demand going forward: "Increase in Agri credit limit, continued Government support to increase farmer incomes and a bumper Rabi harvest will help boost tractor demand going forward."
This February performance builds on January's strong results, where Mahindra reported a 15% year-on-year growth with 26,305 domestic tractor sales. The consistent growth reflects Mahindra's dominant position in the Indian tractor market, where it remains the world's largest tractor manufacturer by volume.
The year-to-date figures (April 2024 to February 2025) also show solid progress, with domestic sales reaching 374,512 units, a 10% increase over the 340,250 units sold during the same period in the previous fiscal year. Export performance has been even stronger on a year-to-date basis, with 15,195 units shipped overseas, representing a 25% growth compared to 12,112 units in the previous period.
Total tractor sales for the fiscal year so far stand at 389,707 units, an 11% increase from 352,362 units in the corresponding period of fiscal year 2024.
The consistent growth in both domestic and export markets underscores Mahindra's successful strategy in the farm equipment sector, supported by favorable agricultural conditions and government policies aimed at boosting rural income. As India approaches the harvest season for Rabi crops, the outlook for Mahindra's tractor business remains positive, with demand expected to stay robust through the coming months.