01 August, 2019
Mahindra FES sold 19,174 units of tractors in the domestic market, marking a decline by 11% compared to the same month last year, when it registered 21,574 units, announced the company in its regulatory filing.
The company's total sales in July 2019 dropped by 12% at 19,992 units, compared to 22,679 units in the corresponding month last year.
Export numbers too saw a decline by 26% with 818 units compared to 1,105 units in the same month last year.
Like the rest of the automotive industry tractor segment too is facing the headwinds and it is reflected in Mahindra's tractor sales number as well.
Commenting on the sales performance, Rajesh Jejurikar, President, Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 19,174 tractors in the domestic market during July 2019. We hope that the spread of monsoon, government initiatives to increase rural incomes through farm & non-farm sources and an overall improvement in liquidity will spur improvement in tractor demand during the second half of the year. In the export market, we have sold 818 tractors."
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