Temperature 19.27 C New Delhi, IN
Wednesday, December 11, 2019
No Image

Mahindra’s farm equipment domestic sales dip 11% in July 2019

Mumbai: Domestic sales of Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) dip 11% in July 2019. Announcing its tractor sales numbers for July 2019, the company said domestic sales in July 2019 were at 19,174 units, as against 21,574 units during July 2018.

Total tractor sales (domestic + exports) during July 2019 were at 19,992 units, as against 22,679 units for the same period last year. Exports for the month stood at 818 ­­units.

Commenting on the performance, Rajesh Jejurikar, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 19,174 tractors in the domestic market during July 2019. We hope that the spread of monsoon, government initiatives to increase rural incomes through farm & non-farm sources and an overall improvement in liquidity will spur improvement in tractor demand during the second half of the year. In the export market, we have sold 818 tractors.”

 

Farm Equipment Sector
July Cumulative July
  F19 F20 %Change F19 F20 %Change
             
Domestic 21574 19174 -11% 118934 102087 -14%
             
Exports 1105 818 -26% 4529  4255 -6%
             
Total 22679 19992 -12% 123463 106342 -14%

*Exports include CKD

The Mahindra Group is a USD 20.7 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 agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses.