Mahindra and Mahindra‘s Farm Equipment Sector (FES) recently announced its sales numbers for April for its tractors division. Greatly impacted by the coronavirus pandemic and the nationwide lockdown, domestic tractor sales for the company were recorded at 4,716 units, which was in stark contrast to the 27,495 units sold in April the previous year.
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The company recorded exports for the month under review at 56 units, with total tractor sales, comprising of domestic as well as export market, came down to 4,772 units for April 2020, in comparison to 28,552 units that were sold in the same month in 2019.
Hemant Sikka, President, Farm Equipment Sector, Mahindra and Mahindra, commented on the sales numbers by saying, “We have sold 4,716 tractors in the domestic market during April 2020. The extension of the national lockdown impacted the business, with dealers partially open for just a few days. Going forward, several positive factors including a good Rabi output, opening of procurement centres by the Government, indication of good crop prices, reservoir levels etc., augur well for tractor demand. However, the rate of improvement will depend on how quickly the on-ground sales operations, including the start of NBFCs are normalized, following the relaxation of the lockdown. In the exports market we have sold 56 tractors.”.