Deficient monsoon and fear of drought have resulted into negative sentiments among the farmers across India. Its reflection is clearly visible in the declining sales of tractors in the country.
Domestic sales of Mahindra & Mahindra, India’s largest tractor manufacturer, in June 2019 were at 31,879 units, as against 39,277 units during June 2018. Total tractor sales — domestic with exports — during June 2019 were at 33,094 units, as against 40,529 units for the same period last year. Exports for the month stood at 1,215 units.
Commenting on the performance, Rajesh Jejurikar, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 31,879 tractors in the domestic market during June 2019. Tractor demand remained sluggish in June. We hope that the onset of monsoon and the upcoming Union Budget allocations to the rural and agriculture sectors will drive positive sentiment in the coming months. In the export market, we have sold 1,215 tractors.”
Farm Equipment Sector
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*Exports include CKD
Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the USD 20.7 billion Mahindra Group announced its tractor sales numbers for June 2019 recently.