MUMBAI, 2 July 2020: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), has announced its tractor sales for June 2020 have increased by 12 percent to 35,844 units, as against 31,879 units during June 2019.
Total tractor sales (Domestic + Exports) during June 2020 also recorded a growth of 10 percent to 36,544 units, as against 33,094 units for the same period last year.
However, the company's sale from exports for the month stood at 700 units, registering a 42 percent drop, as compared to 1215 units exported during 2019.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 35,844 tractors in the domestic market during June 2020, a growth of 12% over last year. This is our second highest June sales ever. The timely arrival of the southwest monsoon, combined benefits of a record Rabi crop, Government support for Agri initiatives and very good progress in the sowing of the Kharif crop have led to positive sentiments among farmers. These underlying factors along with better cash flows in rural markets have helped boost tractor demand during June. It is expected that this demand will continue to remain buoyant in the coming months. In the exports market, we have sold 700 tractors”.
|
| Farm Equipment Sector (FD+SD+Gromax) | |||||
|
| June | Cumulative June | ||||
|
| F20 | F21 | %Change | F20 | F21 | %Change |
| Domestic | 31879 | 35844 | 12% | 82913 | 64577 | -22% |
| Exports | 1215 | 700 | -42% | 3437 | 1080 | -69% |
| Total | 33094 | 36544 | 10% | 86350 | 65657 | -24% |
*Exports include CKD
