Mahindra & Mahindra Ltd NSE -1.54 percent stated on Friday that total tractor sales were down by 13% in June to 41,848 units. In June 2021, the firm sold 48,222 tractors.
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In comparison to the 46,875 tractors sold in the same month last year, domestic sales fell 15% to 39,825 units in the earlier month, the company reported in a statement.
However, compared to 1,347 units in June 2021, exports increased by 50% to 2,023 units in the month.
With great prices for Rabi production, cash flow with farmers is great. The government’s authorization of an increase in MSP for all Kharif crops and forecast of a normal monsoon is very positive for a bumper Kharif crop, according to Hemant Sikka, President for Farm Equipment Sector at Mahindra & Mahindra Ltd. “We have sold 39,825 tractors in the domestic market during June 2022,” he added.
Although the first two weeks of the Kharif seeding season are slower than they were last year due to insufficient rainfall in important Kharif states, the south-west monsoon’s continued advance across the nation fosters optimism and is likely to increase tractor requirement in the months to come, he added.
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