Mahindra’s Farm Equipment Sector Sells 23,503 Units in India during August 2020

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Mahindra’s Farm Equipment Sector Sells 23,503 Units in India during August 2020

    Mahindra’s Farm Equipment Sector Sells 23,503 Units in India during August 2020

Mahindra’s Farm Equipment Sector Sells 23,503 Units in India during August 2020

01 Sep, 2020

Mumbai, September 1, 2020: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, today announced its tractor sales numbers for August 2020.

Domestic sales in August 2020 were at 23,503 units, as against 13,871 units during August 2019.

Total tractor sales (Domestic + Exports) during August 2020 were at 24,458 units, as against 14,817 units for the same period last year.

Exports for the month stood at 955 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 23,503 tractors in the domestic market during August 2020, a growth of 69% over last year. On the back of highest ever sales in July, we have clocked yet another highest ever sales in August. The Tractor industry growth continues to remain strong in August. This is primarily on account of continued positive sentiment, due to increase in Kharif sowing area, thereby indicating a bumper harvest, bountiful monsoon, good rural cash flows and base effect. We expect rural sentiments to remain positive and translate into robust tractor demand as we move into the festive period. In the exports market, we have sold 955 tractors, a growth of 1% over last year.”

 

Farm Equipment Sector (FD+SD+Gromax)

   Particular    

        August

  Cumulative August

     FY20   

     FY21

    % Change  

     FY20      

      FY21    

    %Change    

Domestic

13871

23503

69%

115958

112543

-3%

Export

946

955

1%

5201

2974

-43%

Total

14817

24458

65%

121159

115517

-5%

*Exports include CKD

 

About Mahindra

The Mahindra Group is a USD 19.4 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 renewable energy, agribusiness, logistics and real estate development. Headquartered in India, Mahindra employs over 2,56,000 people across 100 countries.

 

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