There has been no sign of relief for slowing down tractor sales in the India. Mahindra & Mahindra’s Farm Equipment Sector (FES) has witnessed 4 percent decline in its sales in October 2019 as compared to the corresponding period in 2018.
In October 2019, the India’s largest tractor manufacturing company sold 44,646 tractors, as against 46,312 units during October 2018. Total tractor sales, domestic and exports, during October 2019 were at 45,433 units, as against 47,376 units for the same period last year. Exports for the month stood at 787 units as compared to 1064 units in the corresponding month last year. The company today announced its tractor sales for the month of October 2019.
Commenting on the performance, Rajesh Jejurikar, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 44,646 tractors in the domestic market during October 2019. The festive season has seen improvement in demand uptick. The retail momentum has been good in October with a healthy double digit growth compared to October last year. Higher reservoir levels, adequate soil moisture condition and an improved MSP of Rabi crop, augur well for tractor demand in the next few months. In the exports market, we have sold 787 tractors.”
Mahindra’s Tractor Sales in October 2019