Mahindra Farm Equipment Records 17 Per Cent Sales Decline In Domestic Market
The sales growth including domestic sales and exports went down by 15 per cent selling 27,681 units as compared to 32,726 units sold a year ago.
Mahindra & Mahindra has recorded a year-on-year sales decline of 17 per cent in the domestic market in its tractor business selling 26,094 units as compared to 31,619 units sold in the same month a year ago. At the same time, its exports went up by 43 per cent exporting 1,587 units as compared to 1,107 units exported a year ago. Overall, the sales growth including domestic sales and exports went down by 15 per cent selling 27,681 units as compared to 32,726 units sold a year ago.
Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 26094 tractors in the domestic market during November 2021. De-growth over November 2020 is due to high base of last year and incessant rains in some states. Rural sentiments continue to remain positive on account of good Rabi sowing and high reservoir levels. Escalation in procurement for Kharif crop will bring steady cash flows, which is expected to boost tractor demand going forward. In the exports market, we have sold 1587 tractors, a growth of 43 per cent over last year.”
On year-to-date (YTD) basis, the company sold 2,52,181 units in the April 2021 – November 2021 recording a growth of 9 per cent selling 2,32,111 units in the same period a year ago. As far as exports are concerned, the company reported a growth of 87 per cent selling 11,366 units as compared to 6,076 units sold a year ago. Overall, the company sold 2,63,547 units registering a growth of 11 per cent as compare to 2,38,187 units sold a year ago.