M&M tractor sales down 2% in Sept; exports fall 41%

Mahindra & Mahindra (M&M) on Tuesday reported a 2 per cent decline in total tractor sales at 37,011 units in September.

The company had sold 37,581 units in the same month last year, M&M said in a regulatory filing.

Sales of tractors in the domestic market was marginally up at 36,046 units as compared to 35,953 units in the year-ago month, it added.

However, exports declined 41 per cent at 965 units as compared to 1,628 units in September 2018, the company said.

Commenting on the sales performance, M&M President - Farm Equipment Sector Rajesh Jejurikar said, "good monsoons, reservoir levels and crop prices are all positives going into the festive season. The recent disruption caused by heavy rains has had an impact on short-term demand."

He, however, added, "we believe that the fundamentals are in place for improved momentum over the coming months."