Mahindra’s Farm Equipment Sector (FES) continued showing growth for the second consecutive month with its June sales of 35,844 tractors representing a 12% growth compared to the same month last year. This is particularly creditable given the very challenging operating conditions in the market due to the ongoing pandemic.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “This is our second highest June sales ever. The timely arrival of the south west monsoon, the benefits of a record Rabi crop, Government support for Agri initiatives and very good progress in the sowing of the Kharif crop have led to positive sentiments among farmers.
These underlying factors along with better cash flows in rural markets have helped boost tractor demand during June. It is expected that this demand will continue to remain buoyant in the coming months. In the exports market, we have sold 700 tractors”.
Total tractor sales (Domestic + Exports) during June 2020 were 36,544 units, as against 33,094 units for the same period last year. Domestic sales during the month were at 35,844 units, as against 31,879 units during June 2019.
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