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Mahindra, escorts and sonalika tractor sales achieve highest growth in July 2020

Mahindra, escorts and sonalika tractor sales achieve highest growth in July 2020

    Mahindra, escorts and sonalika tractor sales achieve highest growth in July 2020

Mahindra, escorts and sonalika tractor sales achieve highest growth in July 2020

01 Aug, 2020

Mahindra & Mahindra sales

Mahindra & Mahindra on Saturday reported a 27 percent jump in its tractor sales at 25,402 units in July. The company had sold 19,992 units of the tractor in July 2019, Mahindra & Mahindra (M&M) said in a statement.
Domestic sales grew 28 percent to 24,463 units in July this year, as compared to 19,174 units in the year-ago month, it added.
Exports during the month stood at 939 units, as compared to 818 units in July last year, up 15 percent, the company said.

"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 and July and continued higher rural spending by the government," M&M President - Farm Equipment Sector Hemant Sikka said.
He, however, said localized lockdowns in certain states and COVID-19 related impact on specific suppliers led to supply-side challenges during the month. On the outlook, he said, "it is expected that the sentiments are likely to remain buoyant translating into robust tractor demand in the coming months.

Escorts Sales

Escorts Agri Machinery Volumes grew by 9.5 percent in July 2020

Escorts Ltd Agri Machinery Segment (EAM) in July 2020 sold 5,322 tractors registering a growth of 9.5 percent against 4,860 tractors sold in July 2019.
Domestic tractor sales in July 2020 at 4,953 tractors registering a growth of 9.9 percent against 4,505 tractors in July 2019.
Export tractor sales in July 2020 at 369 tractors registering a growth of 3.9 percent against 355 tractors sold in July 2019. 

 Sales Figure of Escort

Particulars        

July

YTD(4M)

 

       FY21         

         FY20      

         %Change       

         FY21      

         FY20       

      %Change      

Domestic

4953

4505

9.9%

22643

24627

-8.1%

Exports

369

355

3.9%

829

1284

-35.4%

Total

5322

4860

9.5%

23472

25911

-9.4%

Sonalika Sales

in July’20 Sonalika has recorded the highest domestic growth of 71.7% with overall sales of 10,233 tractors. Which is more than industry growth of 38%(est.).

 

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