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Mumbai, April 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 March 2019 and the financial year ended March 31, 2019.
Domestic sales in March 2019 were at 18,446 units, as against 27,155 units during March 2018. Total tractor sales (domestic + exports) during March 2019 were at 19,688 units, as against 28,477 units for the same period last year. Exports for the month stood at 1,242 units.
For the financial year ended March 31, 2019 (F-19), the total tractor sales (domestic + exports) were at 3,30,436 units as against 3,19,623 units in F-18. The domestic sales in F-19 were at 3,16,742 units, as against 3,04,019 units for the same period last year.
Commenting on the performance, Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We are happy to end F-19 with total sales of 3,30,436 tractors for Mahindra’s Farm Equipment Sector. However, the month of March was slow in the domestic market due to postponement of festive season to April and lower Rabi sowing than expected. We hope that the Government's focus on rural development, a good forecast for horticulture production and an increase in the MSP will positively impact demand for tractors going forward."
|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.
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Mahindra & Mahindra Ltd.
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