India’s largest tractor manufacturer, Mahindra & Mahindra has registered 14 percent decline in domestic tractors sales in the first four month of FY20. From April to July 2019, the company sold 118,934 tractors as compared to 102,087 tractors sold in the corresponding period last year. The exports slipped in the same period from 4,529 tractors to 4,255 tractors.
The company registered 11 percent decline in July 2019 in its domestic tractor sales while 26 percent decline in exports as compared to July 2018 sales.
Domestic sales in July 2019 were at 19,174 units, as against 21,574 units during July 2018. Total tractor sales, domestic as well as exports, during July 2019 were at 19,992 units, as against 22,679 units for the same period last year. Exports for the month stood at 818 units as against 1105 units sold in July 2018.
However, the tractor manufacturer is optimistic for the sales growth in the second half of the year. Rajesh Jejurikar, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 19,174 tractors in the domestic market during July 2019. We hope that the spread of monsoon, government initiatives to increase rural incomes through farm and non-farm sources and an overall improvement in liquidity will spur improvement in tractor demand during the second half of the year. In the export market, we have sold 818 tractors.”
Farm Equipment Sector Sales
Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the USD 20.7 billion Mahindra group, today announced its tractor sales numbers for July 2019.