Mahindra’s Farm Equipment Sector Sells 35,844 Units in India during June 2020

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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 south west 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 exports market, we have sold 700 tractors”.

Farm Equipment Sector (FD+SD+Gromax)
JuneCumulative June
 F20F21%ChangeF20F21%Change
       
Domestic318793584412%8291364577-22%
       
Exports1215700-42%34371080-69%
       
Total330943654410%8635065657-24%

*Exports include CKD

About Post Author

Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
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