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Automaker giant, Mahindra & Mahindra Ltd (M&M) has said, “It has reported a 19 percent decline in total tractor sales at 18,269 units in December 2021 compared to 22,417 units for the same month in December 2020.”
In a statement issued, Mahindra & Mahindra said, “The domestic tractor sales stood at 21% low to 16,687 units in December 2021 as against 21,173 units for the same month last year.”
Export grew 27 percent to 1,582 units against 1,244 units last year.
Commenting on the development, M&M President for Farm Equipment Sector, Hemant Sikka said, “The degrowth in December has been on account of a combination of factors, including the high base of last year and both delayed and very heavy rainfall in some geographies.”
”We expect momentum to recover in the coming months on account of the good progress of Kharif procurement, bringing liquidity in the hands of farmers and Rabi acreage showing signs of growth over last year,” he added.