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Mumbai, June 1, 2019:Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), a part of the USD 20.7 billion Mahindra Group, today announced its tractor sales numbers for May 2019.
Domestic sales in May 2019 were at 23,539 units, as against 28,199 units during May 2018. Total tractor sales (domestic + exports) during May 2019 were at 24,704 units, as against 29,330 units for the same period last year. Exports for the month stood at 1,165 units.
Commenting on the performance, Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 23,539 tractors in the domestic market during May 2019. The tractor demand has been lower than expected in the month of May. We hope that a strong push by the Government on agri initiatives coupled with a near normal monsoon forecast by IMD would boost the tractor demand in the near future. In the exports market, we have sold 1,165 tractors, a growth of 3% over May 2018."
|FARM EQUIPMENT SECTOR|
*Exports include CKD
The Mahindra Group is a USD 20.7 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 agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise
Media contact information:
Vice President (Communications)
Mahindra & Mahindra Ltd.
Landline – + 91 22 28468510
Email– [email protected]