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Mahindra & Mahindra Ltd’s Farm Equipment Sector’s (FES) domestic sales fell to 4,716 units in April, an 83.5 per cent dip, impacted by the lockdown following the Coronavirus outbreak.
The company had sold 27,495 units during the corresponding month a year ago.
The total tractor sales (domestic and exports) during April 2020 were at 4,772 units, as against 28,552 units for the same period last year. Exports for the month stood at 56 units, the company said in a statement.
“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, augur well for tractor demand,” Hemant Sikka, President-Farm Equipment Sector, Mahindra & Mahindra said.
“However, the rate of improvement will depend on how quickly the on-ground sales operations, including the start of NBFCs, are normalised, following the relaxation of the lockdown. In the exports market we have sold 56 tractors,” he added.
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