Mahindra has recorded a MoM drop of 12.36 per cent in the domestic market selling 26,130 units as compared to 29,817 units sold a month ago. However, its exports went up by 20.81 per cent at 1393 units as against 1153 units sold in March 2021.
Mahindra Farm Equipment has recorded a month-on-month (MoM) sales decline of 11.13 per cent selling 27,523 units last month as compared to 30,970 units sold in March 2021. The company has recorded a drop of 12.36 per cent in the domestic market selling 26,130 units as compared to 29,817 units sold a month ago. That said, its exports went up by 20.81 per cent at 1393 units as against 1153 units sold in March 2021. Like other automakers, even Mahindra‘s farm sales took a hit last year in April due to the COVID-19 crisis and the second wave has taken a toll on auto sales again in April this year and is likely to continue disrupting the industry even in May.
Hemant Sikka, President , Farm Equipment Sector- Mahindra said, “We have sold 26130 tractors in the domestic market during April 2021 with a growth of 454 per cent over last year. High growth witnessed in April 2021 is due to low base due to nationwide lockdowns in April last year. There have been disruptions in supply chain due to localised lock downs and availability of oxygen along with dealerships in few states getting closed impacting demand momentum. All agri related undamentals continue to remain strong, with bumper rabi crop harvest and forecast of a normal monsoon. We expect that tractor demand will bounce back as farmers start preparing their land for Kharif crops in the ensuing weeks. We continue to monitor evolving Covid situation across the states with key focus on safety of our people and partners. In the exports markets, we have sold 1393 tractors, a growth of 2388 per cent over last year and have a strong order book.”
On a year-on-year (YoY) basis, Mahindra Farm Equipment has recorded a growth of 454 per cent last month as it sold just 4716 units in April last year.