Mahindra & Mahindra Ltd. has announced its tractor sales report for September 2026. The company’s Farm Equipment Business (FEB) recorded domestic tractor sales of 50,208 units in September 2026, compared with 64,946 units sold during the same month last year.

This represents a 23% year-on-year decline in domestic tractor sales. According to the company, the decline was primarily due to a shift in the festive season, which is commencing in October this year compared with September last year.

The company also highlighted that the comparison with September 2025 was affected by a higher base, as tractor sales during that period benefited from the implementation of a GST rate cut.

Mahindra Tractor Domestic Sales September 2026

Mahindra sold 50,208 tractors in the domestic market in September 2026, down from 64,946 units in September 2025. The company reported a 23% year-on-year decline in domestic tractor volumes.

The primary reason given for the decline is the shift in the festive season. While the festive season started in September last year, it is commencing in October this year. This has affected the year-on-year comparison for September.

The company also noted that September 2025 had a higher sales base because the period benefited from the implementation of a GST rate cut.

Despite the monthly decline, Mahindra's cumulative domestic tractor sales for the period up to September 2026 stood at 2,62,872 units, compared with 2,47,336 units during the corresponding period of the previous year. This represents 6% growth in cumulative domestic sales.

Mahindra Tractor Export Sales September 2026

Mahindra recorded strong growth in tractor exports during September 2026. The company exported 1,892 tractors, compared with 1,165 units in September 2025.

This represents a 62% year-on-year growth in exports.

For the cumulative period up to September 2026, Mahindra's tractor exports stood at 11,196 units, compared with 9,689 units during the corresponding period last year. The company recorded 16% growth in cumulative exports.

The export figures include CKD (Completely Knocked Down) units.

Mahindra Total Tractor Sales September 2026

Including both domestic sales and exports, Mahindra sold a total of 52,100 tractors in September 2026. In September 2025, the company recorded total tractor sales of 66,111 units.

This resulted in a 21% year-on-year decline in total tractor sales for September 2026.

However, cumulative total tractor sales up to September 2026 reached 2,74,068 units, compared with 2,57,025 units during the corresponding period of the previous year. This represents 7% cumulative growth.

Mahindra Tractor Sales Report: September 2026 vs September 2025

Mahindra's September 2026 tractor sales performance can be summarised as follows:

• Domestic Sales: 50,208 units vs 64,946 units
• Domestic Growth decline by 23%
• Exports: 1,892 units vs 1,165 units
• Export Growth: 62%
• Total Sales: 52,100 units vs 66,111 units
• Total Sales decline by : -21%
• Cumulative Domestic Sales: 2,62,872 units vs 2,47,336 units
• Cumulative Domestic Growth: 6%
• Cumulative Exports: 11,196 units vs 9,689 units
• Cumulative Export Growth: 16%
• Cumulative Total Sales: 2,74,068 units vs 2,57,025 units
• Cumulative Total Growth: 7%

Why Did Mahindra Tractor Sales Decline in September 2026?

According to Mahindra, the 23% decline in domestic tractor sales was mainly linked to the change in the timing of the festive season.

The festive season is starting in October 2026, whereas it commenced in September in the previous year. This shift has affected the comparison between the two months.

Another factor was the higher sales base recorded in September 2025. The previous year's September sales benefited from the implementation of a GST rate cut during that period, which supported the sales comparison base.

Therefore, the September 2026 decline needs to be viewed in the context of both the festive-season timing and the higher base of September 2025.

Mahindra Tractor Sales Outlook

While Mahindra reported a decline in domestic tractor sales for September 2026, the company's cumulative performance remained positive. Domestic sales during the cumulative period grew by 6%, while total tractor sales, including exports, increased by 7%.

The company also recorded a 62% year-on-year increase in exports during September, highlighting stronger overseas sales during the month.

With the festive season commencing in October this year, upcoming monthly sales will provide a clearer picture of demand during the festive period.

Mahindra Tractor Sales Report September 2026: Key Highlights

Mahindra sold 50,208 tractors in the domestic market in September 2026, registering a 23% decline compared with September 2025. Exports, however, increased by 62% to 1,892 units.

The company sold a total of 52,100 tractors, including domestic sales and exports, during the month. Despite the monthly decline, cumulative domestic sales grew by 6% to 2,62,872 units, while cumulative total sales increased by 7% to 2,74,068 units.

Mahindra attributed the September domestic sales decline primarily to the shift in the festive season and the higher sales base created by the GST rate cut in September 2025.

Words from Officials

Veejay Nakra, President – Farm Equipment Business, Mahindra & Mahindra Ltd. said “We have sold 50,208 tractors in the domestic market during September 2026. The year-on-year decline in volumes is primarily attributable to the festive season shift, commencing in October this year, as compared with September last year. The comparison is also impacted by a higher base in September 2025, which benefited from the implementation of the GST rate cut during the period. In the exports market, we have sold 1,892 tractors” 

Conclusion

Mahindra recorded 50,208 domestic tractor sales in September 2026, marking a 23% year-on-year decline from 64,946 units in September 2025. The company attributed the decline mainly to the festive season shifting to October this year and the higher base recorded in September 2025 following the GST rate cut.

Exports provided a positive offset, growing 62% to 1,892 units. On a cumulative basis, Mahindra's domestic tractor sales increased 6%, while total sales including exports grew 7%.

The October 2026 sales performance will be important as the festive season begins and tractor demand could be influenced by the timing of festive purchases and other market factors.