Mahindra Tractor Sales Rise 2% in September
By Rediff Money Desk, Mumbai Oct 01, 2024 11:20
Mahindra & Mahindra's tractor sales increased by 2% in September 2024, driven by strong monsoon rainfall and positive rural sentiment. Domestic sales rose 3% while exports declined 10%.
Mumbai, Oct 1 (PTI) Mahindra & Mahindra (M&M) Ltd on Tuesday said its tractor sales increased 2 per cent to 44,256 units in September 2024 from 43,210 units sold in the same month last year.
Of the total sales in the previous month, domestic sales were 43,201 units, up 3 per cent from 42,034 units sold in September 2023, while exports were down 10 per cent at 1,055 units as against 1,176 tractors shipped abroad last year, the company said.
"Monsoon rainfall has seen an increase of 7.5 per cent over LPA (long period average) and this has helped increase in kharif sowing of all crops except cotton. Reservoir levels have recovered very well and are now at 13 per cent higher than LPA, which augurs very well for a bumper rabi crop," said Hemant Sikka, President, Farm Equipment Sector, Mahindra & Mahindra Ltd.
On the back of good kharif crop and likely strong rabi crop, rural sentiments are positive. With positive terms of trade for farmers and upcoming festivals, the company expects robust demand for tractors going forward, he added.
Of the total sales in the previous month, domestic sales were 43,201 units, up 3 per cent from 42,034 units sold in September 2023, while exports were down 10 per cent at 1,055 units as against 1,176 tractors shipped abroad last year, the company said.
"Monsoon rainfall has seen an increase of 7.5 per cent over LPA (long period average) and this has helped increase in kharif sowing of all crops except cotton. Reservoir levels have recovered very well and are now at 13 per cent higher than LPA, which augurs very well for a bumper rabi crop," said Hemant Sikka, President, Farm Equipment Sector, Mahindra & Mahindra Ltd.
On the back of good kharif crop and likely strong rabi crop, rural sentiments are positive. With positive terms of trade for farmers and upcoming festivals, the company expects robust demand for tractors going forward, he added.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- AvanceTechnologies
- 0.94 ( -4.08)
- 36935326
- Vodafone Idea L
- 7.88 ( -2.11)
- 35484083
- Srestha Finvest
- 0.68 (+ 3.03)
- 30298217
- ARC Finance
- 2.78 (+ 2.96)
- 16033600
- Suzlon Energy Ltd.
- 62.50 ( -6.49)
- 13725252
MORE NEWS
Air India Express Expands Network, Adds...
Air India Express plans to increase its fleet to 110 aircraft by March 2025 and expand...
UP Govt & World Bank Discuss Rs 3,903cr Agri...
Uttar Pradesh govt holds talks with World Bank for a Rs 3,903 crore project to boost...
Ashok Leyland: Record Exports Expected This...
Ashok Leyland is set to achieve record exports this fiscal year, fueled by expansion in...