Mahindra & Mahindra August tractor sales down 17% at 14,817 units

Homegrown auto major Mahindra & Mahindra on Sunday reported a 17 per cent decline in total tractor sales in August at 14,817 units. The company had sold 17,785 units in the same month last year, M&M said in a statement.Domestic tractor sales were at 13,871 units as against 16,375 units in the year-ago month, down 15 per cent, it added. Exports during the month stood at 946 units as compared to 1,410 units in August last year, down 33 per cent, M&M said.Commenting on the outlook, M&M President - Farm Equipment Sector Rajesh Jejurikar said, "The improved monsoon spread and sowing pattern for the kharif crop is likely to help boost rural sentiment going into the festive season. The recently announced fiscal measures by the government may also provide the necessary stimulus for tractor demand uptick."

from Economic Times https://ift.tt/2ZuCfHV