Mahindra tractor sales up 14%; co expects demand to improve on good monsoon
Strong monsoon this year will boost agricultural output; kharif sowing is already better than last year, Mahindra said.
Mahindra & Mahindra sold 17,553 tractors in July, up 14% from the 15460 tractors sold in the same period last year, the company told BSE in a notification.
Out of this, in the domestic market, Mahindra sold 16,452 tractors, up 15% from the 14,273 tractors sold in the same period last year.
However, its exports were down 7% at 1,101 units sold in the month from the 1,187 units sold in the same period last year.
Commenting on the sales figures, Rajesh Jejurikar, President and chief Executive, Farm Equipment and Two Wheeler Division, Mahindra & Mahindra, said, "With normal rainfall and its improved spread across India in the month of July, Kharif Sowing has been more than last year. We hope for an improved agricultural output and tractor demand in the future."
Mahindra Group's tractor segment falls under the Farm Equipment Sector (FES).