Mahindra Farm Equipment Sector, part of Mahindra Group has announced the tractor sales number for October 2021 month.
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Domestic Tractor Sale
The domestic sales in October 2021 were at 45,420 units, while 45,588 units were sold during the last year of the same month, a decline of 0.40%.
Total Tractor Sale (Domestic+Export)
On the other hand, the company’s total tractor sale was 47,017 units including domestic and exports while 46,558 units of tractors were sold in the last year of the same month. The company has recorded an increase of 1% in the total tractor sale
On the performance of tractor sales growth, Hemant Sikka, President- stated that “We have sold 45420 tractors in the domestic market during October 2021 over last year. With a rapid Covid vaccination drive exceeding 100 crore doses in the country, the economy has started gaining momentum, while rural economic activity continues to be resilient.
The monsoon, though normal at a cumulative level, has ended with heavy rainfall in September and October. This has resulted in delayed harvesting of Kharif crop while leading to higher reservoir levels and moisture content for Rabi crop. The expectation of a good Kharif harvest, coupled with good preparations for the Rabi crop and the upcoming festivities, will boost positive sentiments and drive demand in the coming months. In the exports market, we have sold 1597 tractors with a growth of 65% over last year.”
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