Posted On - 02 Nov 2020
India's No.1 Tractor Manufacturer Mahindra & Mahindra (M&M) on Sunday reported a 2% growth in total (Domestic+ Export) Tractor sales at 46,558 units in October.
The company had sold 45,433 units in the same month last year, M&M said in a regulatory filing.
Sales of tractors in the domestic market were up at 45,588 units as compared to 44,646 units in the year-ago month, it added.
Mahindra Tractors Exports also grew 23% at 970 units as compared to 787 units in October 2019, the company said.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, M&M said, “We continue to witness unprecedented retail demand which is likely to be higher than wholesale numbers on back of expectations of a higher Kharif output and good cash flow in the market. Auspicious festival days ahead, coupled with mechanization requirements for ongoing Kharif harvesting and impending Rabi sowing season augurs well for the industry."
As per our resources, overall domestic tractor sales grew by 13% in Oct'20, by that mean Mahindra tractors continue to lose Market share in Oct month also.
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