Auto Sales March 2021: Mahindra Farm Equipment Sector Sell 30,970 units

Mahindra has recorded a sales growth of 128 per cent in March 2021 in its farm equipment business selling 30,970 units as compared to 13,613 units sold a year ago. The triple-digit sales growth is primarily attributed to a low base in the same month last year as sales were subdued due to the outbreak of the COVID-19 pandemic, due to the nationwide lockdown. The company has recorded 122 per cent growth in its domestic sales selling 29,817 units as compared to 13,418 units sold in the same month last year. It also witnessed 491 per cent growth in exports at 1,153 units as compared to 195 units exported a year ago. The company recorded a MoM sales growth of 13.98 per cent as it sold 27,170 in February 2021.

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Mahindra has also exported 1153 units in March 2021

Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 29,817 tractors in the domestic market during March 2021 with a growth of 122 per cent over last year. Impact of lower base coupled with continued positive sentiments driven by healthy reservoir levels, higher MSP and increased liquidity, have led to strong wholesale growth in March. Tractor demand is expected to remain strong as Rabi harvesting is progressing well along with the onset of sowing of summer crops in select markets. In the exports market, we have sold 1,153 tractors, a growth of 491% over last year."

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It sold 29,817 units in the domestic market in March 2021.

Coming to cumulative sales, the company has recorded a growth of 17.4 per cent at 3,54,496 units as compared to 3,01,915 units sold a year ago. It recorded 18 per cent growth in domestic sales at 3,43,833 units as compared to 2,91,901 units. It also recorded 7 per cent growth in exports at 10,665 units as compared to 10,014 units.