Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of the Mahindra Group yesterday (1 Nov) announced its tractor sales numbers for October 2021. Domestic sales in October 2021 were at 45420 units, as against 45588 units during October 2020.
Total tractor sales (Domestic + Exports) during October 2021 were at 47017 units, as against 46558 units for the same period last year. Exports for the month stood at 1597 units.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 45420 tractors in the domestic market during October 2021 over last year. With rapid Covid vaccination drive exceeding 100 crore doses in the country, the economy has started gaining momentum, while rural economic activity continues to be resilient.
The monsoon, though normal at cumulative level, has been back-ended with heavy rainfall in September and October. This has resulted in delayed harvesting of Kharif crop while leading to higher reservoir levels and moisture content for Rabi crop.
The expectation of a good Kharif harvest, coupled with good preparations for the Rabi crop and the upcoming festivities, will boost positive sentiments and drive demand in the coming months.
In the exports market, we have sold 1597 tractors with a growth of 65% over last year.
|
Farm Equipment Sector Summary - October 2021 |
||||||
|
October |
YTD October |
|||||
|
F22 |
F21 |
%Change |
F22 |
F21 |
%Change |
|
|
Domestic |
45420 |
45588 |
-0.4% |
226087 |
200492 |
13% |
|
Exports |
1597 |
970 |
65% |
9779 |
4969 |
97% |
|
Total |
47017 |
46558 |
1% |
235866 |
205461 |
15% |
About Mahindra:
Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federations of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology, and financial services in India and is the world’s largest tractor company by volume.
It has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate. The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to rise.
