> Farm Equipment Sector

August Tractor Numbers Set Another Record

Mahindra’s Farm Equipment Sector, the world’s largest tractor company by volume, continued to post strong tractor sales for the third successive month in August, registering 23,503 units — a 69 % growth compared to the same month last year — despite the tough operating conditions caused by the pandemic.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, said, “On the back of highest ever sales in July, we have clocked yet another highest ever sales in August.

This is primarily on account of continued positive sentiment, due to increase in Kharif sowing area, thereby indicating a bumper harvest, bountiful monsoon, good rural cash flows and base effect. We expect rural sentiments to remain positive and translate into robust tractor demand as we move into the festive period. In the exports market, we have sold 955 tractors, a growth of 1% over last year.”

Total tractor sales (Domestic + Exports) during August 2020 were at 24,458 units, as against 14,817 units for the same period last year.

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