Mahindra Farm Records 5 Per Cent Sales Decline In Domestic Market

Mahindra Farm recorded a sales decline of 5 per cent in the domestic market last month selling 22,843 units in May 2021 as compared to 24,017 sold in the same period a year ago. On the other hands, the company's exports grew by a humongous 314 per cent selling 1341 units last month as compared to 324 units sold in May 2020. Mahindra Farm's overall sales in May 2021 recorded a marginal decline of 1 per cent at 24,184 units as compared to 24,341 units it sold in the corresponding month last year.

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Mahindra Farm's exports has grown in the same month.

Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 22843 tractors in the domestic market during May 2021. In May, COVID spread in rural markets led to stringent lockdowns, leading to deferment of tractor purchase and limited operations at dealerships. While state specific lockdowns and localised restrictions continue, it is heartening to see the Covid cases reducing sharply. This is leading to sharp improvement in farmer sentiments and green shoots of recovery are visible, especially since the last week, as farmers start preparing their land for upcoming Kharif crop season. A bumper Rabi harvest, record procurement, food prices holding up, gradual opening up of Mandis and expectations of a normal monsoon will pave the way for growth in the upcoming season. In the exports market, we have sold 1341 tractors with a growth of 314 per cent over last year."

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Coming to the MoM growth, the company has recorded a decline of 12.13 per cent as it sold 27,523 units in the previous month.