M&M July tractor sales up 27% at 25,402 units

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Mahindra & Mahindra on Saturday reported 27 percent jump in its tractor sales at 25,402 units in July. The company had sold 19,992 units of tractor in July 2019, Mahindra & Mahindra (M&M) said in a statement.

Domestic sales grew 28 percent to 24,463 units in July this year, as compared to 19,174 units in the year-ago month, it added.

Exports during the month stood at 939 units, as compared to 818 units in July last year, up 15 percent, the company said.

"These are our highest ever July sales. The strong demand momentum continued, aided by positive sentiments due to good cash flows to farmers, higher Kharif sowing, a timely and normal monsoon cumulatively across June and July and continued higher rural spending by the government," M&M President - Farm Equipment Sector Hemant Sikka said.

He, however, said localised lockdowns in certain states and COVID-19 related impact on specific suppliers led to supply-side challenges during the month.

On the outlook, he said, "it is expected that the sentiments are likely to remain buoyant translating into robust tractor demand in the coming months."