Mahindra & Mahindra’ Farm Equipment Sector (FES), a part of the USD 20.7 billion Mahindra Group, today announced that in February 2019 its domestic sales in February 2019 were at 18,105 units, as against 19,442 units during February 2018.
Total tractor sales (domestic + exports) during February 2019 were at 18,978 units, as against 20,658 units for the same period last year, down by 8 percent. Exports for the month stood at 873 units, a YoY decline of 28 percent (1,216 units in February 2018).
In the period from April 2018 to February 2019 (YTD for FY2019), Mahindra sold 298,296 tractors, an increase of 8 percent against the same period in FY2018. The exports in the same period saw a decline of 13 percent with 12,452 units (14,282 units in Apr-Feb FY2018). All the export figures also include Completely Knocked Down (CKD) units.
Commenting on the month’s performance, Rajesh Jejurikar, president - Farm Equipment Sector, Mahindra & Mahindra 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.”