Mahindra’s Farm Equipment Sector reported growth of 17% YoY in sales in India during October 2018
Deepthi | Myequity news | Date : 02-11-2018 10:35:00 IST
Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 20.7 billion Mahindra Group, today announced its tractor sales numbers for October 2018.
Domestic sales in October 2018 were at 46,312 units, as against 39,516 units during October 2017. Total tractor sales (domestic + exports) during October 2018 were at 47,376 units, as against 40,562 units for the same period last year. Exports for the month stood at 1,064 units. About Mahindra
Commenting on the month’s performance, Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “We have sold 46,312 tractors in the domestic market during Oct 2018, a growth of 17% over last year. Demand gained momentum with the onset of the festival season. In the exports market, we sold 1,064 tractors in Oct 2018, a growth of 2% over last year. All our plants operated at full capacity, to help us meet the festive demand.”
The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.