Interventions

COVID-19 lockdown: Mahindra’s tractor sales decline 83%

The COVID-19 lockdown has made adverse impact on the sales of farm inputs required for the upcoming Kharif season. It seems evident in the sales of tractors of India’s largest tractor manufacturing company, Mahindra & Mahindra

COVID-19 lockdown: Mahindra’s tractor sales decline 83%

The COVID-19 lockdown has made adverse impact on the sales of farm inputs required for the upcoming Kharif season. It seems evident in the sales of tractors of India’s largest tractor manufacturing company, Mahindra & Mahindra. The domestic sales of the company has declined 83 percent in April 2020. The company sold 4716 tractors in the month against the 27,495 tractors sold in the same month in 2019.

The exports witnessed the similar trends, the company sold 56 tractors in the month against 1057 tractors sold in the same month in 2019. It is a decline of 95 percent.

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), Friday, announced its tractor sales numbers for April 2020.

Highlighting the sales, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 4,716 tractors in the domestic market during April 2020. 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 etc., augur well for tractor demand.”

“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,” Sikka added.

Mahindra & Mahindra’s tractor sales in April

 

F20

F21

%Change

     

Domestic

27495

4716

-83%

     

Exports

1057

56

-95%

     

Total

28552

4772

-83%

     
0 Shares
The Changing Face of Rural India