Mahindra’s Farm Equipment Sector grows by 21pc in domestic market during Feb 2020
Domestic sales in February 2020 were at 21,877 units
Mumbai: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 20.7 billion Mahindra Group, today announced its tractor sales numbers for February 2020.
Domestic sales in February 2020 were at 21,877 units, as against 18,105 units during February 2019, a growth of 21%. Total tractor sales (Domestic + Exports) during February 2020 were at 22,561 units, as against 18,978 units for the same period last year, a growth of 19%. Exports for the month stood at 684 units.
Commenting on the performance, Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We are happy to see a growth of 21% in domestic tractor sales over last year. We have sold 21,877 tractors in the domestic market during February, 2020. The tractor demand trend is expected to strengthen on the back of a robust Rabi output and the prevailing crop prices. Going forward, the increase in rural and agri spending on core schemes by the Government should augur well for the industry. In the exports market, we have sold 684 tractors”.