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Mahindra’s Farm Equipment Sector Sells 22,843 tractors in India during May 2021, Down 5% YoY

    Mahindra’s Farm Equipment Sector Sells 22,843 tractors in India during May 2021, Down 5% YoY

01 Jun, 2021

Mumbai, June 1, 2021: 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 May 2021, which indicate a clear growth path in the upcoming season.

 

Domestic sales in May 2021 were at 22843 units, as against 24017 units during May 2020.

 

Total tractor sales (Domestic + Exports) during May 2021 were at 24184 units, as against 24341 units for the same period last year.

 

Exports for the month stood at 1341 units.

 

Commenting on the performance, 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 localized restrictions continue, it is heartening to see the Covid cases reducing sharply. This is leading to a sharp improvement in farmer sentiments and green shoots of recovery are visible, especially since the last week, as farmers start preparing their land for the 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% over last year.”

Farm Equipment Sector
  May Cumulative May
  F22 F21 %Change F22 F21 %Change
Domestic 22843 24017 -5% 48973 28733 70%
Exports 1341 324 314% 2734 380 619%
Total 24184 24341 -1% 51707 29113 78%

        *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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