In a recently published report, it has been revealed that the Mahindra and Mahindra Farm Equipment Sector has sold 24,341 tractor units in the month of May. The number is inclusive of both domestic and overseas market. 24,017 tractor units were sold in domestic market and rest of them were exported in different countries. Even in the month of April when lockdown norms were stricter, the company had sold approximately 4,000 tractors. The huge sales has also triggered the growth of 2 percent year-over-year basis, which is considered as a good sign during the dark times that gloom over the economy.
Anand Mahindra, the Chairman of the Mahindra Group, said in a tweet, “Economic recovery will be led by our farmers…”Back to basics’…” Mahindra Group is one of the largest tractor manufacturer in the country.
The sudden increase in the sales of tractors across the country is being accredited with the IMD announcing a normal monsoon prediction. Hemant Sikka, President – Farm Equipment Sector at Mahindra and Mahindra told that the good predictions for Kharif crops has multiplied the demand for their tractors. The timely relaxation provided by the government during the lockdown has helped the demand for tractors, which has made farmers to start farming keeping the monsoon in mind.
Sikka emphasized the relevancy of Anand Mahindra’s statement as he too believes that it is the agriculture sector, which is going to bring back the economic growth of the country amid the pandemic. The overall sense of growth in agriculture has helped demand for the tractors.
