Mahindra & Mahindra on Monday reported a 9 percent increase in domestic tractor sales to 43,364 units in June. The company sold 39,825 units in the same month last year, M&M said in a statement.
The company's total tractor sales were at 44,478 units last month, as against 41,848 in June last year, a growth of 6 percent, it added.
According to Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra, though the arrival of the South-West monsoon got delayed due to cyclonic disturbances, it has smartly progressed in the last week of June and has now covered the entire country, bringing huge relief to the farmers and aiding in Kharif sowing.
"As of date, aggregate sowing acreage of Kharif crops is ahead of last year's acreage and is progressing at a fast pace. In addition, record Rabi crops, Government support with an increase in MSP for all Kharif crops, and improving terms of trade for farmers are positive factors that are expected to support tractor demand going forward," he added.
In the export market, the company sold 1,114 tractors last month as compared to 2,023 last month, a drop of 45 percent.