Mahindra & Mahindra's Farm Equipment Sector has recorded a growth of 23 per cent in the domestic market selling 21,173 units in December 2020 as compared to 17,213 units sold in the same month last year. The company's exports went up by 60 per cent at 1244 units as compared to 778 units exported in the same month last year. Overall, the company has recorded a sales growth of 25 per cent at 22,417 units as compared to 17,991 units sold in the same month last year.
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Mahindra's Telangana plant has a production capacity of over 1,00,000 tractors per year on a 2-shift basis.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra said, "We have sold 21,173 tractors in the domestic market during December 2020 with a growth of 23 per cent over last year. The wholesale volumes continued to be strong fueled by restoration of channel inventory post the festive season, announcement of hike in tractor prices by major OEMs and anticipation of sustained demand on the back of higher Rabi acreage, GoI support in Kharif procurement & rural development schemes. In the exports market, we have sold 1,244 tractors, a growth of 60 per cent over last year."
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Mahindra has recorded a growth of 8 per cent in the domestic market in the April- December period.
As far as cumulative sales are concerned, the company has recorded a growth of 8 per cent in the domestic market selling 2,53,284 units in April- December period as compared to 2,34,277 units sold in the same period last month. Mahindra's exports went down by 12 per cent at 7320 units as compared to 8348 units sold in the same month a year ago. Overall, the company recorded an uptick of 7.4 per cent selling 2,60,604 units in the April-December period as compared to 2,42,625 units sold in the same period last year.
