Mahindra & Mahindra has released their tractor sales figures for May 2021, which shows a strong upward trend for the next season. In May 2021, domestic sales totaled 22843 units, compared to 24017 units in May 2020. The total number of units exported during the month was 1341.
Domestic sales in May 2021 were down by 5% year over year when compared to May 2020. Total tractor sales (domestic + exports) in May 2021 were 24184 units, down 1% year over year from 24341 units in the same month last year.
Hemant Sikka, President, Farm Equipment Sector, Mahindra & Mahindra, commented on the result, "We have sold 22843 tractors in the domestic market during May 2021." COVID spread in rural areas in May, resulting in strict lockdowns, deferred tractor purchases, and limited dealership operations.
While state-specific lockdowns and localized limitations remain in place, it is encouraging to see the number of Covid instances drop dramatically. Farmers' moods are sharply improving, and green shoots of recovery can be seen, particularly in the last week, as farmers begin to prepare their land for the approaching Kharif crop season.
A big Rabi harvest, record procurement, stable food prices, the progressive opening up of Mandis, and forecasts of a regular monsoon will all help prepare the way for growth in the following season. We sold 1341 tractors in the export market, a 314 percent increase from the previous year.
