Agriculture

Coronavirus hits tractors’ market, Mahindra sees 31% sales decline in March

Mahindra’s total tractor sales -- domestic as well as exports -- during March 2020 were at 13,613 units, as against 19,688 units for the same month last year

Coronavirus hits tractors’ market, Mahindra sees 31% sales decline in March

Amid COVID-19 pandemic, India’s largest tractor manufacturer, Mahindra & Mahindra has registered a 27 percent dip in its tractor sales in March 2020 as against the same month sales of 2019. Exports in the same period has registered a decline of 84 percent.

Mahindra & Mahindra’s Farm Equipment Sector (FES), has sold 13,418 tractors in March 2020 in domestic markets, as against 18,446 units during March 2019. Mahindra’s total tractor sales — domestic as well as exports — during March 2020 were at 13,613 units, as against 19,688 units for the same month last year. Exports for the month was 195 tractors as compared to 1242 tractors in the corresponding month last year.  

Highlighting the performance, Rajesh Jejurikar, Executive Director, Auto & Farm Equipment Sectors, Mahindra & Mahindra said, “We have sold 13,418 tractors in the domestic market during March 2020.The month was disrupted as business was hugely impacted by the lockdown just before the start of festive days in large parts of the country. In compliance with the regulations, the anticipated retail surge and billing totally stopped in all states.”

“The Central government has taken timely initiatives for the farming community in the form of specific relief packages. We hope this will help bring in momentum for tractor sales, after the lockdown ends. In the exports market, we have sold 195 tractors,” Jejurikar added.

Key figures

 

 

March

 

 

Cumulative March

 

 

F19

F20

%Change

F19

F20

%Change

Domestic

18,446

13418

-27%

316742

291,901

-8%

Exports

1242

195

-84%

13694

10,014

-27%

Total

19,688

13613

-31%

330,436

301,915

-9%




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