Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), reported strong tractor sales numbers for July 2021.
Total tractor sales (Domestic + Exports) during July 2021 were at 27,229 units, as against 25,402 units for the same period last year. Exports for the month stood at 1,460 units.
Commenting on the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd., said, “We have sold 25,769 tractors in the domestic market during July 2021 with a growth of 5 per cent over last year. Demand remained buoyant in July as crop sowing operations gained traction, with monsoon picking up pace across all the regions. The easing of Covid curbs and robust farm incomes on record Rabi crop procurement has bode well for the rural economy. We continue to stay bullish on tractor demand in the coming months owing to revival of monsoon, hike in MSP of key Kharif crops and upcoming festival season. In the exports market, we have sold 1,460 tractors with a growth of 55 per cent.”