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M&M Farm Equipment Sector (FES) on Monday announced its tractor sales numbers for March 2019 and the financial year ended March 31, 2019.
For the financial year ended March 31, 2019, the total tractor sales (domestic + exports) were at 3,30,436 units as against 3,19,623 units in FY-18. The domestic sales in FY-19 were at 3,16,742 units, as against 3,04,019 units for the same period last year.
Domestic sales in March 2019 were at 18,446 units, as against 27,155 units during March 2018. Total tractor sales (domestic + exports) during March 2019 were at 19,688 units, as against 28,477 units for the same period last year. Exports for the month stood at 1,242 units.
Commenting on the performance, Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We are happy to end FY19 with total sales of 3,30,436 tractors for Mahindra’s Farm Equipment Sector.
However, the month of March was slow in the domestic market due to the postponement of festive season to April and lower Rabi sowing than expected. We hope that the Government's focus on rural development, a good forecast for horticulture production and an increase in the MSP will positively impact demand for tractors, going forward.”