August 2, 2021 2:17:50 pm
Mahindra & Mahindra Ltd on Monday reported a 7 per cent increase in total tractor sales at 27,229 units in July.
The company had sold 25,402 units in the same month last year, M&M said in a statement.
Domestic tractor sales were at 25,769 units last month, as against 24,463 in July last year, a growth of 5 per cent, it added.
The company said its tractor exports grew by 55 per cent last month to 1,460 units, as against 939 units in July last year.
Commenting on the sales performance, M&M President – Farm Equipment Sector, Hemant Sikka said, “Demand remained buoyant in July as crop sowing operations gained traction with monsoon picking up pace across all the regions.”
He further said easing of COVID-19 related curbs and robust farm incomes on account of record Rabi crop procurement has bode well for the rural economy.
“We continue to stay bullish on tractor demand in the coming months owing to revival of monsoon, hike in minimum support price (MSP) of key Kharif crops and upcoming festival season,” Sikka said.
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