M&M July tractor gross sales up 27% at 25,402 models owing to well timed monsoon, money circulate

NEW DELHI: Mahindra & Mahindra on Saturday reported 27 per cent soar in its tractor sales at 25,402 models in July. The firm had offered 19,992 models of tractor in July 2019, Mahindra & Mahindra (M&M) stated in a press release.

Domestic gross sales grew 28 per cent to 24,463 models in July this yr, 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 yr, up 15 per cent, the corporate stated.

“These are our highest ever July gross sales. The sturdy demand momentum continued, aided by constructive sentiments attributable to 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 Equipment Sector Hemant Sikka stated.

He, nonetheless, stated localised lockdowns in sure states and COVID-19 associated affect 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 prone to stay buoyant translating into sturdy tractor demand within the coming months.”

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