Sales in April grew by 41% from the same month in 2019 after posting a decline for seven out of the previous eight months in a row.
Hemant Sikka, president of farm equipment business at Mahindra & Mahindra, told ET that April of 2022 was the best-ever April in the history of the tractor industry with over 89,000 units sold, a new benchmark for this period compared with the previous high of around 66,700 units in April 2019.
Tractor manufacturers expect this momentum to sustain and are ramping up their monthly production schedules by 25-30% for the next two months to meet this demand.
A senior executive of a supplier to tractor makers said that May production schedules are 30% higher than April’s and 50% higher than March’s, underlining the preparedness on part of companies to be ready to serve higher demand.
Mahindra & Mahindra’s Sikka expects the momentum to continue to benefit both the tractor and rural segment, with demand drivers staying on course.
