Bulugh al-Maram

Takhrij:
«أخرجه الترمذي، أبواب الصلاة، باب ما جاء في المشي يوم العيد، حديث: 530، وقال: "هذا حديث حسن"، الحارث الأعور ضعيف جدًا متهم، وأبواسحاق عنعن.»©

Explanation:
The aforementioned narration has been declared severely weak in terms of its chain of transmission by our esteemed researcher, and other scholars have also considered it weak. However, Imam Tirmidhi rahimahullah has graded this narration as hasan and further written that most of the scholars act upon this hadith.
According to them, it is recommended (mustahabb) to go to the Eid prayer ground (Eidgah) on foot for the Eid prayer.
Shaykh al-Albani rahimahullah writes regarding this that perhaps Imam Tirmidhi rahimahullah has graded the narration of Ali radi Allahu anhu as hasan due to other supporting evidences, which are found under the chapter “What has been reported regarding going out to the Eid on foot” in Sunan Ibn Majah.
He further writes that all the narrations in this chapter are individually weak, but when considered collectively, it becomes apparent that there is indeed some basis for this issue.
And then, in support and affirmation of this issue, he presents a mursal narration that the Messenger of Allah sallallahu alayhi wa sallam used to go on foot to attend funerals and to perform the Eid al-Adha and Eid al-Fitr prayers. Furthermore, Sa‘id ibn al-Musayyib said that there are three Sunnahs of Eid al-Fitr: “Going to the Eidgah on foot, eating something before going for the Eid prayer, and performing ritual bath (ghusl) for the Eid prayer.”
From the above discussion, it is understood that going to the Eidgah on foot is at least recommended (mustahabb); however, if there is a need, one may also go by riding (on a mount or vehicle).
And Allah knows best.
For further details, see: (Irwa’ al-Ghalil: 3/103, 104)

Urdu Footnote:
Note:
(In the chain of narration, Harith al-A'war is a weak narrator, but on the basis of corroborating evidences, this hadith is Hasan.)