MAHINDRA REPORTS FEBRUARY TRACTOR SALES
Mar. 11, 2019
Ag Equipment Intelligence reports:
Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), reported its tractor sales numbers for February 2019 on March 1.
Domestic sales in February reached 18,105 units compared to 19,442 units in February 2018, a drop off of 6.9%. Total tractor sales (domestic + exports) during February 2019 were at 18,978 units vs. 20,658 units for the same period last year, a decrease of about 8%. Exports for the month stood at 873 units.
Commenting on the month's performance, Rajesh Jejurikar, president of Mahindra's Farm Equipment Sector, said, "The tractor industry has remained subdued in February. However, it is expected that positive sentiments associated with the recently executed direct beneficiary transfers to marginal farmers and other pro-rural initiatives by the government, will help create momentum for tractor sales in the near term."