Mahindra & Mahindra (M&M) on Monday reported a 50 per cent increase in total tractor sales at 34,778 units in January 2021. The company had sold 23,116 tractors in January 2020, M&M said in a statement.
Domestic sales in January were at 33,562 units as against 22,329 units during the same month of last year, it said.
Total tractor exports in the previous month stood at 1,216 units, the company added.
“We have sold 33,562 tractors in the domestic market during January 2021 with a growth of 50 per cent over last year. Tractor demand continues to be strong with expansion in Rabi acreage, very high reservoir levels and higher liquidity in the hands of farmers with timely Kharif procurement,” said Hemant Sikka, President – Farm Equipment Sector, M&M.
Demand is expected to remain robust on account of these factors and higher allocations, he said adding that in the exports market, the company sold 1,216 tractors, registering a growth of 55 per cent over last year.