Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the USD 16.5 billion Mahindra Group, announced its sales numbers for November 2014.
Mahindra’s domestic tractor sales in November 2014 stood at 14,207 units, against 22,343 units during November 2013. Total tractor sales, domestic as well as exports, during the month stood at 15,333 units, against 23,119 units for the same period last year, registering a growth of 45 percent. Exports for the month stood at 1,126 units.
Commenting on the performance, Rajesh Jejurikar, Chief Executive, Farm Equipment and Two Wheeler Division, Mahindra & Mahindra said, “We have registered a sale of 14,207 units during November 2014. The tractor industry has been difficult due to delayed rains and sowing. A delayed paddy crop, low yield and low prices for sugarcane, cotton and paddy have led to a low demand and low cash in hand. There is also a base effect to some extent as Diwali this year was in October 2014 vis-à-vis in November 2014 last year.”
The Mahindra Group operates in major industries and has a presence in industries such as agribusiness, components, energy, industrial equipment, logistics, commercial vehicles and two wheeler.