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Mahindra Tractor (Farm Equipment Sector) Sells 35,844 Units in India during June 2020

Mahindra’s Farm Equipment Sector Sells 35,844 Units in India during June 2020 Witnesses a growth of 12

Mumbai, July 1, 2020:

Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, today announced its tractor sales numbers for June 2020.

Domestic sales in June 2020 were at 35,844 units, as against 31,879 units during June 2019.

Total tractor sales (Domestic + Exports) during June 2020 were at 36,544 units, as against 33,094 units for the same period last year.

Exports for the month stood at 700 units.

Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 35,844 tractors in the domestic market during June 2020, a growth of 12% over last year. This is our second highest June sales ever. The timely arrival of the southwest monsoon, combined benefits of a record Rabi crop, Government support for Agri initiatives, and very good progress in the sowing of the Kharif crop have led to positive sentiments among farmers. These underlying factors along with better cash flows in rural markets have helped boost tractor demand during June. It is expected that this demand will continue to remain buoyant in the coming months. In the export market, we have sold 700 tractors”.

                            Farm Equipment Sector (FD+SD+Gromax)


                          June                                     Cumulative June

 

F20

F21

%Change

F20

F21

%Change

Domestic     

31879    

  35844    

12%               

82913     

64577   

-22%

Exports

1215

  700

-42%

3437

1080

-69%

Total

33094 

36544

-10%

86350 

65657

-24%

About Mahindra The Mahindra Group is a USD 19.4 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses, and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services, and vacation ownership in India and is the world’s largest tractor company by volume. It also enjoys a strong presence in renewable energy, agribusiness, logistics, and real estate development. Headquartered in India, Mahindra employs over 2,56,000 people across 100 countries.

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