The sales of India’s largest tractor manufacturer, Mahindra & Mahindra has dipped 12 percent in October 2015 as against of October 2014.
The company’s domestic sales in October 2015 stood 11 percent lesser at 27,280 units, as against 30,800 units during October previous year. Total tractor sales, domestic as well as exports during October 2015 stood 12 percent lesser at 28081 units, as against 31907 units for the same period last year. The exports for the month of October 2015 dipped 28 percent at 801 units as against of 1107 units during the same period last year.
Despite the low sentiment of the market, Mahindra Tractors is hopeful to get better results in the month of November 2015. Highlighting the performance, Rajesh Jejurikar, president and Chief Executive – Farm Equipment and Two Wheeler Division, Mahindra & Mahindra said, “We have sold 27,280 tractors in the domestic market during October 2015. We expect upcoming festive season will bring in improved sentiments and demand in coming month.
Despite deficient monsoon this year, the late showers in last leg of monsoon are likely to improve sentiments for Rabi sowing and hope of better second crop. In export markets we sold 801 tractors during October 2015.”
A US$ 16.9 billion multinational group, the Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity and increase business efficiency. The company provides employment opportunities to over 200,000 people in over 100 countries.