Mahindra’s Farm Equipment Sector (FES) on Sunday has posted a decline of 15 percent in its domestic tractor sales to 13,871units in August.
The company had reported a sales of 16,375 tractors in August 2018.
Tractor Exports also dipped 33 percent to 946 units last month as compared to 1,410 units in the same month last year.
Overall sales were reported at 14,817 tractors, down 17 percent from 17,785 tractors in a month under review last fiscal.
Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 13,871 tractors in the domestic market during August 2019. The improved monsoon spread and sowing pattern for the Kharif crop is likely to help boost rural sentiment going into the festive season.”
“The recently announced fiscal measures by the Government may also provide the necessary stimulus for tractor demand uptick. In the exports market, we have sold 946 tractors,” he added.