Posted On - 01 Jan 2021
Mahindra & Mahindra Ltd.’s Farm Equipment registered a 25% growth in sales in December 2020 at 22,417 units as compared to the 17,991 units sold last year.
Domestic sales were up 23% at 21,173 units, while exports rose 60% at 1,244 units. “The wholesale volumes continued to be strongly fueled by the restoration of channel inventory post the festive season, announcement of hike in tractor prices by major OEMs and anticipation of sustained demand on the back of higher Rabi acreage, GoI support in Kharif procurement and rural development schemes,” Hemant Sikka, President of Mahindra’s Farm Equipment Sector said.
The Automotive Division, on the other hand registered a 10.3% decline in sales in December 2020 at 35,187 units against the 39,230 units sold in the same period last year, according to the company’s exchange filing. Overall passenger vehicle sales were up 3% at 16,182 units with a 3% growth in exports at 2,210 units. “Our overall sales have been affected due to the continuing supply chain ch
Overall passenger vehicle sales were up 3% at 16,182 units with a 3% growth in exports at 2,210 units. “Our overall sales have been affected due to the continuing supply chain challenges related to the constantly changing global environment, more specifically the supply shortage of micro-processors (semiconductors) used in Electronic Control Units,” Veejay Nakra, Chief Executive Officer of Mahindra’s Automotive Division said.
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