Auto Sales November 2020: Mahindra Registers 55 Per Cent Growth In Tractor Sales

Mahindra has registered an impressive growth of 55 per cent in the domestic market in its tractor business at 31,619 units as compared to 20,414 units sold in the same month last year. The company witnessed a growth of 79 per cent in its exports at 1107 units as compared to 617 units exported a year back. Overall, Mahindra has recorded a growth of 56 per cent at 32,726 units as compared to 21,031 units sold a year ago.

Also Read: Car Sales November 2020: Mahindra's Utility Vehicle Sales Drop 2% Over October 2020

Mahindra had also introduced new models earlier this year.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra said, "We have sold 31,619 tractors in the domestic market during November 2020, a growth of 55 per cent over last year. Demand continues to be robust fuelled by an excellent festive season with retails being strong during Dhanteras and Diwali. Rural sentiments remain positive on account of higher Kharif output and Rabi sowing. Procurement operations for kharif are on full swing which would keep the rural cash flows healthy. Government's focus on rural growth continues and outlay under Atmanirbhar Bharat 3.0 will provide further fillip to the industry. In the exports market, we have sold 1,107 tractors, a growth of 79 per cent over last year."

Also Read: Mahindra Thar Set To Become Pricier From December 1, 2020

Mahindra will invest Rs. 100 crore In Telangana plant to build new K2 series tractors.

Speaking of cumulative sales, Mahindra registered a growth of 7 per cent in the domestic market selling 2,32,111 units as compared to 2,17,064 units in the same month last year. The company exported 6076 units to other markets in the same period which is a de-growth of 20 per cent when compared to 7570 units exported last year. However, overall it has witnessed a growth of 6 per cent at 2,38,187 units as compared to 2,24,634 units sold a year ago.