Mahindra tractor sales jump 69% to 23,503 units in August

Mahindra tractor sales jump 69% to 23,503 units in August

New Delhi: Mahindra Farm Equipment sector witnessed a massive growth of 69% in August domectic tractor sales at 23,503 units on account of continued positive sentiment due to bumper harvest, bountiful monsoon, good rural cash flows and base effect.

The automaker sold 13,871 units in the domestic market during August 2019.

The growth has been on account of continued positive sentiment due to bumper harvest, bountiful monsoon, good rural cash flows and base effect.

Total tractor sales (Domestic + Exports) during August 2020 were at 24,458 units, as against 14,817 units for the same period last year.

                        

   Particular    
        August
  Cumulative August
     FY20   
     FY21
    % Change  
     FY20      
      FY21    
    %Change    
Domestic
13871
23503
69%
115958
112543
-3%
Export
946
955
1%
5201
2974
-43%
Total
14817
24458
65%
121159
115517
-5%


Exports for the month stood at 955 units as compared to 946 units exported in the same month last year.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd said, “We have sold 23,503 tractors in the domestic market during August 2020, a growth of 69% over last year. On the back of the highest ever sales in July, we have clocked yet another highest-ever sale in August. The Tractor industry growth continues to remain strong in August."

He further added, "We expect rural sentiments to remain positive and translate into robust tractor demand as we move into the festive period. In the exports market, we have sold 955 tractors, a growth of 1% over last year.”

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