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mahindra tractor sales rise 2 percent in May 2020

mahindra tractor sales rise 2 percent in May 2020

    mahindra tractor sales rise 2 percent in May 2020

01 Jun, 2020

Mahindra’s Farm Equipment Sector Sells 24,017 Units in India during May 2020
Mumbai, June 1, 2020:
Mahindra & Mahindra Ltd.’s Farm Equipment Sector (Mahindra tractors, Trakstar & Swaraj tractor), a part of the USD 20.7 billion Mahindra Group, today announced its tractor sales numbers for May 2020.

Domestic sales in May 2020 were at 24,017 units, as against 23,539 units during May 2019.

Total tractor sales (Domestic + Exports) during May 2020 were at 24,341 units, as against 24,704 units for the same period last year.

Exports for the month stood at 324 units
.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 24,017 tractors in the domestic market during May 2020, representing a growth of 2% over last year. The timely relaxation of the lockdown for the Agricultural sector helped ensure the speedy recovery of tractor demand during May. In the near term, farmer sentiment is likely to remain positive due to several developments including robust Rabi crop production, higher procurement, good price realizations and the forecast of a normal monsoon that bodes well for a good Kharif crop. All these augur well for tractor demand going forward. In the exports market, we have sold 324 tractors”.

                       Farm Equipment Sector (FD+SD+Gromax)


                          May                                     Cumulative May

 

F20

F21

%Change

F20

F21

%Change

Domestic     

23539    

  24017    

2%               

51034     

28733   

-44%

Exports

1165

  324

-72%

2222

380 

-83%

Total

24704 

24341

-1%

53256 

29113

-45%


About Mahindra
The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.

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