Mahindra’s total tractor sales decline 13% in June

Mahindra & on Friday reported a 13 per cent decline in total tractor sales at 41,848 units in June. The company had sold 48,222 tractors in June 2021.

Domestic sales declined 15 per cent to 39,825 units in the previous month as compared with 46,875 tractors sold in the same month last year, the company said in a statement.

Exports, however, rose 50 per cent to 2,023 units in the month as against 1,347 units in June 2021, it said.

“We have sold 39,825 tractors in the domestic market during June 2022. With good prices for Rabi output, cash flow with farmers is good. Government’s approval of an increase in MSP for all Kharif crops and forecast of a normal monsoon is very positive for a bumper Kharif crop,” Hemant Sikka, President for Farm Equipment Sector at Mahindra & Mahindra Ltd said.

Though Kharif sowing is lagging in the first fortnight of the season than last year due to deficient rainfall in key kharif states, further advancement of south-west monsoon across the country brings in positive sentiments and is likely to boost the tractor demands in the coming months, he added.

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Automobiles News Click Here 

Read original article here

Denial of responsibility! is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
Leave a comment