M&M farm equipment sector posts 23% growth in Dec 2020
Mahindra & Mahindra Farm Equipment Sector (FES) sold 21,173 units in the domestic market in December 2020, as against 17,213 units during last December, an increase of 23 per cent. Total tractor sales, including exports of 1,244 units, during December 2020 were at 22,417 units, as against 17,991 units for the same month last year.
Hemant Sikka, President – Farm Equipment sector, Mahindra & Mahindra, said, “We have sold 21,173 tractors in the domestic market during December 2020 with a growth of 23 per cent over last year. The wholesale volumes continued to be strong fuelled by restoration of channel inventory after the festive season, announcement of hike in tractor prices by major OEMs and anticipation of sustained demand thanks to higher rabi acreage, the government support in kharif procurement and rural development schemes. In the export market, we had a growth of 60% at 1,244 tractors over last year.”
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