Companies

M&M posts 56% increase in tractor sales in November

Nandana James Mumbai | Updated on December 01, 2020 Published on December 01, 2020

Fuelled by festival season demand and positive rural sentiments on the back of higher kharif output and rabi sowing, Mahindra Ltd’s Farm Equipment Sector (FES) posted a 56 per cent year-on-year increase in total tractor sales in November.

Total tractor sales (domestic and exports) during November 2020 stood at 32,726 units, against 21,031 units in the same period last year.

Domestic tractor sales in November 2020 were at 31,619 units, against 20,414 units during November 2019, marking a 55 per cent y-o-y increase. Exports for the month stood at 1,107 units, against 617 units in November 2019, marking a 79 per cent y-o-y increase.

Also read: Mahindra’s largest tractor plant in Zaheerabad to be hub for new K2 series

“Demand continues to be robust, fuelled by an excellent festival season with retail being strong during Dhanteras and Diwali. Rural sentiments remain positive on account of higher kharif output and rabi sowing. Procurement operations for kharif are in full swing, which would keep the rural cash flows healthy. The government’s focus on rural growth continues and outlay under Atmanirbhar Bharat 3.0 will provide further fillip to the industry,” said Hemant Sikka, President - Farm Equipment Sector, Mahindra.

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Published on December 01, 2020
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