Mahindra & Mahindra's Farm Equipment Sector has released the monthly sales numbers for July 2021. Last month, the company recorded a sales growth of 7 per cent at 27,229 units as compared to 25,402 units sold in July 2020. The company's domestic sales in the same month went up by 5 per cent at 25,769 units as compared to 24,463 units which were sold in the corresponding month last year. Moreover, exports for the month stood at 1,460 units, witnessing a growth of 55 per cent against 939 units sold in July 2020.
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In July 2021 Mahindra exported 1460 tractors from India, including CKD units
Compared to the 46,875 tractors sold, the company has recorded a Month-on-Month (M-o-M) de-growth of 45 per cent in the domestic market. The company exported 1,347 units from India in June 2021, registering a Month-on-Month (M-o-M) growth of 8.3 per cent.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 25769 tractors in the domestic market during July 2021 with a growth of 5% over last year. Demand remained buoyant in July as crop sowing operations gained traction with monsoon picking up pace across all the regions. Easing of COVID curbs & robust farm incomes on account of 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 & upcoming festival season. In the exports market, we have sold 1460 tractors with a growth of 55%".
