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Mahindra’s tractor sells decline 16% in May 2019

Mahindra’s tractor sells decline 16% May 2019

Mahindra & Mahindra's Farm Equipment Sector (FES), a part of the USD 20.7 billion Mahindra Group, Saturday announced its tractor sales numbers for May 2019

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Mahindra & Mahindra’s tractor sales declined 16 percent in May 2019, as against May 2018. The company’s domestic sales in May 2019 were at 23,539 units, as against 28,199 units during May 2018. Total tractor sales, domestic and exports, during May 2019 were at 24,704 units, as against 29,330 units for the same period last year. Exports for the month stood at 1,165 units.

Mahindra & Mahindra's Farm Equipment Sector (FES), a part of the USD 20.7 billion Mahindra Group, Saturday announced its tractor sales numbers for May 2019.

Commenting on the performance, Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra said, "We have sold 23,539 tractors in the domestic market during May 2019. The tractor demand has been lower than expected in the month of May. We hope that a strong push by the Government on agriculture initiatives coupled with a near normal monsoon forecast by IMD (India Meteorological Department) would boost the tractor demand in the near future. In the exports market, we have sold 1,165 tractors, a growth of 3 percent over May 2018."

Farm Equipment Sector

 

May

 

 

Cumulative May

 

F19

F20

%Change

F19

F20

%Change

Domestic

28199

23539

-17%

58083

51034

-12%

Exports

1131

1165

3%

2172

2222

2%

Total

29330

24704

-16%

60255

53256

-12%

*Exports include CKD

Mahindra group enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It stands at a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defence, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses.

 

 

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