Mahindra registers 10% growth in India from April to Dec’18

Mahindra registers 10% growth in India from April to Dec'18
While the domestic sales increased 23,243 tractors during first nine months of the financial year 2018-19, the exports dipped slightly from 11,823 tractors to 10,315 tractors

Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the USD 20.7 billion Mahindra Group announced its tractor sales numbers for December 2018 today.

Mahindra & Mahindra FES domestic sales in December 2018 were at 16,510 units, as against 16,855 units during December 2017. Total tractor sales, domestic as well as exports, during the month were at 17,404 units, as against 18,488 units for the same period last year. Exports for the month stood at 894 units.

However, the India’s largest tractor manufacturer registered a 10 percent growth in the domestic market for the first nine months of the financial year 2018-19. The tractor manufacturer sold 2,59,243 tractors from April 2018 to December 2018 against 2,36,600 tractors sold during the same period last year. While the domestic sales increased 23,243 tractors during first nine months of the financial year 2018-19, the exports dipped slightly from 11,823 tractors to 10,315 tractors in 2018-19.

Commenting on the month’s performance, Rajesh Jejurikar, President – Farm Equipment Sector, Mahindra & Mahindra said, “In December 2018, the Farm Equipment Sector has sold a total volume of 17,404 tractors, including of exports. Even though the Rabi crop sowing has been lower than desired, we hope that the government’s initiatives in the agriculture and rural sectors would enable tractor sales momentum in Q4 of F19. In the export market we sold 894 tractors.”

Farm Equipment Sector

December Cumulative December
F18 F19 %Change F18 F19 %Change
Domestic 16855 16510 -2% 236600 259243 10%
Exports 1633 894 -45% 11823 10315 -13%
Total 18488 17404 -6% 248423 269558 9%
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