Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) sold 2% more tractors on May 2020 tractor in India at 24,017 units, as against 23,539 units sold during May 2019.
Total tractor sales (domestic and exports) during May 2020 were at 24,341 units, as against 24,704 units for the same period last year, thus down 1.46%.
Also read: Hyundai sales decline 78.7% in May
Exports for the month stood at 324 units as against 1165 units in May 2019, down 72%.
Hemant Sikka, President, Farm Equipment Sector, M&M, said, “The timely relaxation of the lockdown for the agricultural sector helped ensure the speedy recovery of tractor demand during May”.
“In the near term, farmer sentiment is likely to remain positive due to several developments including robust Rabi crop production, higher procurement, good price realizations and the forecast of a normal monsoon that bodes well for a good Kharif crop. All these augur well for tractor demand going forward,” he said.