Mahindra's Farm Equipment Sector announced its tractor sales for July 2020 wherein the company recorded a growth of 27 per cent. The total tractor sales including domestic and exports stood at 25,402 units during July 2020, as against 19,992 units sold in the same month last year. Seeing a positive response from the domestic market, the company sold 24,463 units, witnessing a jump of 28 per cent. Last year, the company had sold 19,174 units in the same month.
Additionally, the tractor exports for the month of July stood at 939 units, compared to the 818 units sold last year in the same month. The company recorded a growth of 15 per cent here.
Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 24,463 tractors in the domestic market during July 2020, a growth of 28% over last year. These are our highest ever July sales. The strong demand momentum continued, aided by positive sentiments due to good cash flows to farmers, higher Kharif sowing, a timely and normal monsoon cumulatively across June & July and continued higher rural spending by the Government.”
He further mentioned that, “Localized lockdowns in certain states and COVID related impact on specific suppliers led to supply side challenges during the month. It is expected that the sentiments are likely to remain buoyant translating into robust tractor demand in the coming months. In the exports market, we have sold 939 tractors, a growth of 15% over last year”.