Domestic sales in October 2020 were at 45,588 units, as against 44,646 units during October 2019.01 NOVEMBER, 2020 | India
Mumbai, November 1, 2020: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, today announced its tractor sales numbers for October 2020. The company consolidated its leadership of the top two positions in the domestic tractor market between its Mahindra & Swaraj brands.
Domestic sales in October 2020 were at 45,588 units, as against 44,646 units during October 2019.
Total tractor sales (Domestic + Exports) during October 2020 were at 46,558 units, as against 45,433 units for the same period last year.
Exports for the month stood at 970 units.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 45,588 tractors between both our Mahindra & Swaraj brands in the domestic market during October 2020, a growth of 2% over last year. We continue to witness unprecedented retail demand which is likely to be higher than wholesale numbers on back of expectations of a higher Kharif output and good cash flow in the market. Auspicious festival days ahead, coupled with mechanization requirements for ongoing Kharif harvesting and impending Rabi sowing season augurs well for the industry. In the exports market, we have sold 970 tractors, a growth of 23% over last year.”
|Farm Equipment Sector (FD+SD+Gromax)|
The Mahindra Group is a USD 19.4 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 renewable energy, agribusiness, logistics and real estate development. Headquartered in India, Mahindra employs over 2,56,000 people across 100 countries.
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