M&M reports 15% dip in November tractor sales

Mahindra & Mahindra Ltd on Wednesday reported a 15 per cent decline in total tractor sales with 27,681 units sold in November 2021.

The company had sold 32,726 units in the same month last year, M&M said in a statement.

Domestic tractor sales were down 17 per cent, with 26,094 units sold in November, as compared to 31,619 units in the same month last year, it said.

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However, exports were up 43 per cent at 1,587 units, against 1,107 units in November last year.

Commenting on the sales performance, M&M President - Farm Equipment Sector Hemant Sikka said, "de-growth over November 2020 is due to high base of last year and incessant rains in some states."

Stating that rural sentiments continue to remain positive on account of good Rabi sowing and high reservoir levels, he said, "Escalation in procurement for Kharif crop will bring steady cash flows, which is expected to boost tractor demand going forward."

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