Mumbai, May 1, 2020: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 20.7 billion Mahindra Group, today announced its tractor sales numbers for April 2020.
Domestic sales in April 2020 were at 4,716 units, as against 27,495 units during April 2019. Total tractor sales (Domestic + Exports) during April 2020 were at 4,772 units, as against 28,552 units for the same period last year. Exports for the month stood at 56 units.
Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 4,716 tractors in the domestic market during April 2020. The extension of the national lockdown impacted the business, with dealers partially open for just a few days. Going forward, several positive factors including a good Rabi output, opening of procurement centres by the Government, indication of good crop prices, reservoir levels etc., augur well for tractor demand. However, the rate of improvement will depend on how quickly the on-ground sales operations, including the start of NBFCs are normalized, following the relaxation of the lockdown. In the exports market we have sold 56 tractors.”
Above story published from Mahindra & Mahindra official website.