M&M tractor sales rise 4% to 23,116 units in January, exports decline 38%

Mahindra and Mahindra (M&M) on Saturday reported a 4 per cent increase in tractor sales at 23,116 units in January.

The company had sold 22,212 tractors in the same month last year.

Domestic sales increased 7 per cent to 22,329 units in January as compared with 20,948 units of tractor sold in the same month of2019, the company said in a statement.

However, exports declined 38 per cent to 787 units in the previous month as compared with 1,264 units in January 2019, it said.

"We have sold 22,329 tractors in the domestic market during January with a growth of 7 per cent over last year. The tractor demand is likely to see positive momentum, led by the expectations of a good Rabi output and the government's renewed focus on rural sector through higher allocation as announced in the Union Budget," M&M Farm Equipment Sector President Rajesh Jejurikar said.