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Mahindra's Farm Equipment Sector Sells 31,619 Units in India during November 2020

Mahindra's Farm Equipment Sector Sells 31,619 Units in India during November 2020

Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, today announced its tractor sales numbers for November 2020.

Domestic sales in November 2020 were at 31,619 units, as against 20,414 units during November 2019, domestic sales increased by 55%

Total tractor sales (Domestic + Exports) during November 2020 were at 32,726 units, as against 21,031 units for the same period last year, overall sales increased by 55.60% YoY.

Exports for the month stood at 1,107 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 31,619 tractors in the domestic market during November 2020, a growth of 55% over last year. Demand continues to be robust fueled by an excellent festive season with retails being strong during Dhanteras and Diwali. Rural sentiments remain positive on account of higher Kharif output and Rabi sowing. Procurement operations for kharif are on full swing which would keep the rural cash flows healthy. The government's focus on rural growth continues and outlay under Atmanirbhar Bharat 3.0 will provide further fillip to the industry. In the exports market, we have sold 1,107 tractors, a growth of 79% over last year."

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