Latest News | Mahindra's Total Tractor Sales Decline 13 Pc in June

Mumbai, Jul 1 (PTI) Mahindra & Mahindra Ltd 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.

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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.

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"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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)