Mahindra & Mahindra on Saturday reported 27 % soar in its tractor gross sales at 25,402 models in July. The corporate had bought 19,992 models of tractor in July 2019, Mahindra & Mahindra (M&M) stated in an announcement.
Home gross sales grew 28 % to 24,463 models in July this 12 months, as in comparison with 19,174 models within the year-ago month, it added.
Exports in the course of the month stood at 939 models, as in comparison with 818 models in July final 12 months, up 15 %, the corporate stated.
“These are our highest ever July gross sales. The sturdy demand momentum continued, aided by constructive sentiments resulting from good money flows to farmers, greater Kharif sowing, a well timed and regular monsoon cumulatively throughout June and July and continued greater rural spending by the federal government,” M&M President – Farm Tools Sector Hemant Sikka stated.
He, nonetheless, stated localised lockdowns in sure states and COVID-19 associated impression on particular suppliers led to supply-side challenges in the course of the month.
On the outlook, he stated, “it’s anticipated that the emotions are more likely to stay buoyant translating into sturdy tractor demand within the coming months.”
First Printed on Aug 1, 2020 04:05 pm