Mahindra's FES sells 24,341 units in May
Mumbai/UNI: Mahindra & Mahindra Ltd's Farm Equipment Sector (FES), total tractor sales (Domestic + Exports) during May 2020 were at 24,341 units, as against 24,704 units for the same period last year.
Domestic sales in May 2020 were at 24,017 units, as against 23,539 units during May 2019.
Exports for the month stood at 324 units.
Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 24,017 tractors in the domestic market during May 2020, representing a growth of 2 per cent over last year.''
''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. In the exports market, we have sold 324 tractors," he said.
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