Mahindra & Mahindra has recorded a sales decline of 15 per cent in the Farm Equipment Sector (FES) selling 19,997 units as compared to 23,503 units sold a year ago. Its exports in the same period went up by 43 per cent at 1363 units as compared to 955 units it sold in the overseas markets a year ago. Overall, the automaker recorded a de-growth of 13 per cent selling 21,360 units as compared to 24,458 units sold in the same month a year ago. On month-on-month (MoM) basis, the company recorded a drop of 26.55 per cent as it sold 27,229 units a year ago.
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On month-on-month (MoM) basis, the company recorded an drop of 26.55 per cent.
Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra said, "We have sold 19,997 tractors in the domestic market during August 2021 over last year. Industry saw a de-growth in August over last year due to high base effect. We saw smart recovery in overall acreage of Kharif crops with most of the key crops posting acreage levels closer to last year sown area, despite erratic monsoon in select markets. With the festive period on the anvil, which also coincides with the harvesting season, we are anticipating a robust demand in the coming months. In the exports market, we have sold 1363 tractors with a growth of 43 per cent over last year".
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In the April 2021 - August 2021 period, the company sold 1,48,518 units recording a growth of 29 per cent when compared to 1,15,517 units sold in the same period a year ago.
