December 2, 2020

M&M posts 65% soar in tractor gross sales in August



New Delhi: Mahindra & Mahindra on Tuesday reported 65 per cent soar in complete tractor gross sales at 24,458 models in August.

The corporate had offered 14,817 tractors in the identical month final 12 months, M&M stated in an announcement.

Home tractor gross sales zoomed 69 per cent to 23,503 models final month as in comparison with 13,871 models in August 2019, it added.

Exports had been at 955 models final month, up 1 per cent from 946 models in August 2019.

M&M President – Farm Gear Sector Hemant Sikka stated, “The tractor business development continues to stay sturdy in August. That is totally on account of continued optimistic sentiment on account of improve in Kharif sowing space, thereby indicating a bumper harvest, bountiful monsoon, good rural money flows and base impact.”

On the outlook, he stated, “We anticipate rural sentiments to stay optimistic and translate into strong tractor demand as we transfer into the festive interval.”