Mahindra’s domestic tractor sales surge 12% in June 2020

Mahindra’s domestic tractor sales surge 12% in June 2020
The company sold 35,844 tractors in June 2020, as against 31,879 tractors sold in June 2019

Beating the blues of COVID-19 pandemic, India’s largest tractor manufacturer, Mahindra & Mahindra’s Farm Equipment Sector has registered 12 percent growth in its domestic tractor sales in June 2020. The company sold 35,844 tractors in June 2020, as against 31,879 tractors sold in June 2019. The tractor manufacturer today announced its tractor sales numbers for June 2020.

Total tractor sales, domestic as well as 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 said, “We have sold 35,844 tractors in the domestic market during June 2020, a growth of 12 percent 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,” Sikka added.

June  Cumulative June
 F20F21%ChangeF20F21%Change
       
Domestic318793584412%8291364577-22%
       
Exports1215700-42%34371080-69%
       
Total330943654410%8635065657-24%
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