Mahindra Sells 4,772 Tractors in April 2020 Despite Lockdown, Sales Down by 83 Percent

Mahindra & Mahindra on Friday reported an 83 per cent decline in whole tractor gross sales at 4,772 items in April with lockdown impacting gross sales. The firm had bought a complete of 28,552 items in the identical month final 12 months, M&M mentioned in an announcement.

Domestic tractor gross sales have been down 83 per cent at 4,716 items final month as towards 27,495 items in April 2019, it added. Exports have been at 56 items final month as in comparison with 1,057 items within the year-ago interval, a decline of 95 per cent, the corporate mentioned.

Commenting on the gross sales efficiency, M&M President – Farm Equipment Sector Hemant Sikka mentioned, “The extension of the national lockdown impacted the business, with dealers partially open for just a few days.” On the outlook, he mentioned, “Going forward, several positive factors including a good Rabi output, opening of procurement centres by the government, indication of good crop prices, reservoir levels etc., augur well for tractor demand.”

Sikka, nonetheless, mentioned, “The rate of improvement will depend on how quickly the on-ground sales operations, including the start of NBFCs, are normalised, following the relaxation of the lockdown.”