Mahindra & Mahindra Ltd’s farm equipment division has officially divulged the figures of the company’s performance in terms of its number of tractors sold in the month of February 2019.
M & M’s Farm Equipment Sector (FES) is a part of the USD 20.7 billion Mahindra Group and the company’s Qq2 domestic sales figure during February 2019 stood at 18,105 tractors, in comparison with 19,442 tractor units in February 2018. And the total tractor sales figure – consisting of domestic as well as export numbers – during February 2019 recorded 18,978 units as compared to 20,658 units during the same time in the previous year. Whereas, export numbers during February 2019 were recorded to be 873 tractor units.
Speaking on this development and February’s performance, Rajesh Jejurikar, President of Farm Equipment Sector at Mahindra & Mahindra Ltd said, “We have sold 18,105 tractors in the domestic market during February 2019. 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. In the exports market, we sold 873 tractors.”