Registers 40% domestic growth for the month
Mumbai, February 1, 2018: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 19 billion Mahindra Group, today announced its tractor sales numbers for January 2018.
Domestic sales in January 2018 were at 20,647 units, as against 14,776 units during January 2017. Total tractor sales (domestic + exports) during January 2018 were at 21,875 units, as against 15,909 units for the same period last year. Exports for the month stood at 1,228 units.
Commenting on the month’s performance, Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 20,647 tractors in the domestic market during January 2018 with a growth of 40% over last year. We believe that increased focus towards agriculture and rural infrastructure in the upcoming annual budget, coupled with good progress in Rabi sowing and improved MSP for Rabi crops, would lead to positive sentiments and drive demand in the coming months. In the exports market, we sold 1,228 tractors, a growth of 8% over January 2017."
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The Mahindra Group is a USD 19 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defence, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.
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