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Mahindra reports 15% dip in August tractor sales

Mumbai, September 1: Mahindra and Mahindra on Wednesday reported a 15 per cent dip in tractor sales in August 2021 as compared to the same period last year, attributing it to the ‘high base effect”.

During the previous month, the tractor major sold 19,997 units as against 23,503 units sold in August 2020,  the company said in a statement.

The company, however, registered a 43 per cent jump in tractor sales in the export market, selling 1363 units in August as compared to 955 units sold during August last year.

“We have sold 19,997 tractors in the domestic market during August 2021 over last

year. Industry saw a de-growth in August over last year due to high base effect. We saw smart recovery in overall acreage of Kharif crops with most of the key crops posting acreage levels closer to last year sown area, despite erratic monsoon in select markets.

“With the festive period on the anvil, which also coincides with the harvesting season, we are anticipating a robust demand in the coming months. In the exports market, we have sold 1363 tractors with a growth of 43% over last year”, President-Farm Equipment Sector of the company Hemant Sikka said in a statement.

The combined sales for the company for August stood at 21,360 as compared to 24,458, which was low by 13 per cent.

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