Mahindra recorded an overall growth of 17 per cent in tractor sales in September 2020 selling 43,386 units as compared to 37,011 units which were sold in the same period last year. The company sold 42,361 units in the domestic market last month which is an uptick of 18 per cent when compared to 36,046 units which were sold in the same month a year ago. Mahindra’s tractor exports in the month of September went up by 6 per cent at 1,025 units as against 965 units which were exported in September last year.
Commenting on the performance, Hemant Sikka, President, Farm Equipment Sector- Mahindra & Mahindra said, “We have sold 42,361 units in the domestic market in September 2020, a growth of 18 per cent over last year. Retail demand continued to be buoyant backed by a very good monsoon, higher kharif acreage and continued government support, including higher MSPs for key crops. We are looking forward to a very robust demand for the festive season ahead. In the exports market, we have sold 1,025 tractors, a growth of 6% over last year.”
However, the numbers have improved significantly over the months. In August 2020, Mahindra had sold 24,458 units and at 43,386 units, it has recorded a healthy month-on-month (MoM) growth of 77.38 per cent. Despite the coronavirus crisis, in June 2020, farm equipment sales went up by 10 per cent to 36,544 units and in July it recorded an uptick of 27 per cent in July 2020 at 25,402 units.