M&M tractor sales fall 1 pc in May, exports slump 72 pc

Mahindra & Mahindra on Monday reported 1 per cent decline in total tractor sales at 24,341 units in May. The company had sold 24,704 units of tractor in the same month last year, Mahindra & Mahindra said in a statement.

Domestic tractor sales stood at 24,017 units last month as compared to 23,539 units in May 2019, it added. Exports, however, were down 72 per cent at 324 units as against 1,165 units in May last year. Mahindra & Mahindra Ltd President - Farm Equipment Sector, Hemant Sikka said the timely relaxation of the lockdown for the agricultural sector helped ensure the speedy recovery of tractor demand during May. "Farmer sentiment is likely to remain positive due to several developments including robust Rabi crop production, higher procurement, good price realizations and the forecast of a normal monsoon that bodes well for a good Kharif crop. All these augur well for tractor demand going forward," he added.  PTI RKL RUJ RUJ