MUMBAI, 2 May 2020: India's largest tractor manufacturer, Mahindra & Mahindra farm equipment has announced that sales of domestic tractors have plummet by 83% at 4716 units in April 2020.

Domestic sales during the same month last year was recorded at 27,495 units.

Export during the month also recorded a huge decrease of 95% to only 56 units sales, as compared to 1057 units sold in April 2019.

Total tractor sales (domestic and exports) during April 2020 was recorded at 4,772 units, as compared to 28,552 units posted during the same month last year. 

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 4,716 tractors in the domestic market during April 2020. The extension of the national lockdown impacted the business, with dealers partially open for just a few days."

"Going forward, several positive factors including a good Rabi output, opening of procurement centres by the Government, indication of good crop prices, reservoir levels etc., augur well for tractor demand. However, the rate of improvement will depend on how quickly the on-ground sales operations, including the start of NBFCs are normalized, following the relaxation of the lockdown. In the exports market we have sold 56 tractors,” Sikka explained.

*Exports include CKD