Owing to the incessant rains in many states, Mahindra & Mahindra’s Farm Equipment Sector (FES), has registered a decline of 17 per cent in its domestic tractor sales in November 2021 as compared to the same month in 2020.
The tractor manufacturer Wednesday announced its tractor sales numbers for November 2021. Domestic sales of the company in November 2021 were at 26,094 units, as against 31,619 units during November 2020.
Total tractor sales — domestic as well as exports — during November 2021 were at 27,681 units, as against 32,726 units for the same period last year. Exports for the month stood at 1587 units.
Speaking on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 26,094 tractors in the domestic market during November 2021. De-growth over November 2020 is due to the high base of last year and incessant rains in some states. Rural sentiments continue to remain positive on account of good Rabi sowing and high reservoir levels. Escalation in procurement for Kharif crops will bring steady cash flows, which is expected to boost tractor demand going forward. In the exports market, we have sold 1,587 tractors, a growth of 43 per cent over last year.”
Mahindra Group enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
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