Mahindra & Mahindra's Farm Equipment Sector has registered a growth of 24 per cent in the domestic market for February 2021. The company's tractor sales stood at 27,170 units last month, as compared to 21,877 units sold in February 2020. Moreover, exports went up by 43 per cent at 976 units as compared to 684 units exported in the corresponding month last year. As far as overall sales (domestic + exports) are concerned, the automaker has witnessed a double-digit growth of 25 per cent in February 2021, at 28,146 units, as compared to 22,561 units sold in the same month last year.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 27,170 tractors in the domestic market during February 2021 with a growth of 24% over last year. Tractor demand continues to be robust with Rabi sowing at an all-time high, supported by healthy reservoir levels and higher liquidity with farmers, on account of timely and robust procurement of Kharif crops. The outlook for the industry continues to be positive given the all-time high estimates of Rabi production and strong rural cash flows. In the exports market, we have sold 976 tractors, a growth of 43% over last year."
As far as Year-to-Date (YTD) sales are concerned, Mahindra witnessed a growth of 13 per cent in the domestic market selling 3,14,016 units between the April and February period as compared to 2,78,483 units sold in the same period in the last fiscal year. However, the company's exports went down by 3 per cent at 9,512 units as compared to 9,819 units exported in the same month a year ago. As for its total sales (domestic + exports) for the period, compared to 2,88,302 units sold during the April-February period last year, the company saw a growth of 12.2 per cent selling 3,23,528 units in the current financial year.