Mahindra Farm Equipment Sector sells 24,463 tractor units in July 2020

Date: 02 Aug 2020

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) sold 24,463 tractor units in the domestic market in July 2020, as against 19,174 units during July 2019. This is a 28pc increase in sales in July 2020.

Farm Equipment Sector (FD+SD+Gromax)

July

Cumulative July

 

F20

F21

%Change

F20

F21

%Change

 

 

 

 

 

 

 

Domestic

19174

24463

28%

102087

89040

-13%

 

 

 

 

 

 

 

Exports

818

939

15%

4255

2019

-53%

 

 

 

 

 

 

 

Total

19992

25402

27%

106342

91059

-14%

*Exports include CKD

Total tractor sales (Domestic + Exports) during July 2020 were at 25,402 units, as against 19,992 units for the same period last year. Exports for the month stood at 939 units.

Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 24,463 tractors in the domestic market during July 2020, a growth of 28% over last year. These are our highest ever July sales. The strong demand momentum continued, aided by positive sentiments due to good cash flows to farmers, higher Kharif sowing, a timely and normal monsoon cumulatively across June & July and continued higher rural spending by the Government. Localized lockdowns in certain states and COVID related impact on specific suppliers led to supply side challenges during the month. It is expected that the sentiments are likely to remain buoyant translating into robust tractor demand in the coming months. In the exports market, we have sold 939 tractors, a growth of 15% over last year”.

 

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