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Mahindra & Mahindra Ltd’s Farm Equipment Sector (FES) reported a 7.83 per cent drop in domestic sales in July to 16,379 vehicles, compared with 17,771 units sold during the same period a year ago.
Its total tractor sales (domestic and exports) during the month under review stood at 17,407 units, compared with 18,469 vehicles sold in the same period a year ago. Exports for the month were at 1,028 units, the company said in a statement.
"A delay in the arrival of monsoon has led to late sowing and has impacted farmer sentiment, leading to lower tractor sales in July. We do hope that with the rains picking up in July across the country will give a boost to the farmers' morale and the agriculture industry alike,” Rajesh Jejurikar, Chief Executive, Farm Equipment and Two-Wheeler Division at Mahindra & Mahindra said.
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