October 26, 2020

M&M July tractor gross sales up 27% at 25,402 models owing to well timed monsoon, money stream

NEW DELHI: Mahindra & Mahindra on Saturday reported 27 per cent leap in its tractor gross sales at 25,402 models in July. The corporate had bought 19,992 models of tractor in July 2019, Mahindra & Mahindra (M&M) mentioned in a press release.

Home gross sales grew 28 per cent to 24,463 models in July this yr, as in comparison with 19,174 models within the year-ago month, it added.

Exports through the month stood at 939 models, as in comparison with 818 models in July final yr, up 15 per cent, the corporate mentioned.

“These are our highest ever July gross sales. The sturdy demand momentum continued, aided by optimistic sentiments because of good money flows to farmers, greater Kharif sowing, a well timed and regular monsoon cumulatively throughout June and July and continued greater rural spending by the federal government,” M&M President – Farm Gear Sector Hemant Sikka mentioned.

He, nonetheless, mentioned localised lockdowns in sure states and COVID-19 associated affect on particular suppliers led to supply-side challenges through the month.

On the outlook, he mentioned, “it’s anticipated that the feelings are prone to stay buoyant translating into sturdy tractor demand within the coming months.”