Mumbai, April 1, 2020: 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 2020.
Domestic sales in March 2020 were at 13,418 units, as against 18,446 units during March 2019. Total tractor sales (Domestic + Exports) during March 2020 were at 13,613 units, as against 19,688 units for the same period last year. Exports for the month stood at 195 units.
Commenting on the performance, Rajesh Jejurikar, Executive Director, Auto & Farm Equipment Sectors, Mahindra & Mahindra Ltd. said, "We have sold 13,418 tractors in the domestic market during March 2020.The month was disrupted as business was hugely impacted by the lockdown just before the start of festive days in large parts of the country. In compliance with the regulations, the anticipated retail surge and billing totally stopped in all states. The Central Government has taken timely initiatives for the farming community in the form of specific relief packages. We hope this will help bring in momentum for tractor sales, after the lockdown ends. In the exports market, we have sold 195 tractors."
|Farm Equipment Sector (FD+SD+Gromax)|
*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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