Mahindra & Mahindra’s Farm Equipment Sector (FES) today announced its tractor sales numbers for October 2021. The domestic sales of the company in October 2021 were at 45,420 units, as against 45,588 units during October 2020.
The total tractor sales – domestic as well as exports, during October 2021 were at 47,017 units, as against 46,558 units for the same period last year. Exports for the month stood at 1,597 units.
Highlighting the performance, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra said, “We have sold 45,420 tractors in the domestic market during October 2021. With rapid Covid-19 vaccination drive exceeding 100 crore doses in the country, the economy has started gaining momentum, while rural economic activity continues to be resilient. The monsoon, though normal at cumulative level, has been back-ended with heavy rainfall in September and October. This has resulted in delayed harvesting of Kharif crops while leading to higher reservoir levels and moisture content for Rabi crops.”
“Expectation of a good Kharif harvest, coupled with good preparations for Rabi crops and the upcoming festivities, will boost positive sentiments and drive demand in the coming months. In the exports market, we have sold 1597 tractors with a growth of 65 per cent over last year.”
Farm Equipment Sector Summary – October 2021
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Founded in 1945, the Mahindra Group is one of the largest and admired multinational federations of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India. It is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.