Mumbai, June 1, 2016: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 17.8 billion Mahindra Group, today announced its tractor sales numbers for May 2016.
Domestic sales in May 2016 were at 22,148 units, as against 18,245 units during May 2015. Total tractor sales (domestic + exports) during May 2016 were at 23,018 units, as against 19,257 units for the same period last year. Exports for the month stood at 870 units.
Commenting on the month’s performance, Rajesh Jejurikar, President and Chief Executive - Farm Equipment and Two Wheeler Division, Mahindra & Mahindra Ltd. said, “We are happy to see a sustained momentum in tractor sales during May with a growth of 20% over the previous year. We sold 22,148 tractors in the domestic market during May 2016. Our recent launch of the new Mahindra YUVO tractor platform has received an excellent response in the Indian market. We hope that the positive monsoon forecast, advance estimate of Rabi crop production and the increase in MSP will boost agri income and positively impact the demand going forward. In the export market, we sold 870 tractors during May 2016.”
EQUIPMENT SECTOR (vs PY)
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category in 2013.
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