Auto sales November 2021: Mahindra Farm Equipment reports a 17 per cent drop in sales in the domestic market

Sales growth including domestic sales and exports declined by 15 per cent at 27,681 units as compared to 32,726 units sold a year ago.

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Sales growth, including domestic sales and exports, declined by 15 percent.

Mahindra & Mahindra reported a 17 per cent year-on-year decline in its tractor business in the domestic market at 26,094 units as compared to 31,619 units sold in the same month a year ago. At the same time, its exports are exporting 43 percent to 1,587 units as compared to 1,107 units exported a year ago. Overall, sales growth including domestic sales and exports declined by 15 per cent at 27,681 units as compared to 32,726 units sold a year ago.

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The company sold 2,52,181 units in April 2021 – November 2021 registering a growth of 9 per cent.

Hemant Sikka, President – Agricultural Equipment Sector, Mahindra & Mahindra said, “We have sold 26094 tractors in the domestic market during November 2021. The decline in November 2020 is due to the higher base of last year and incessant rains in some states. Rural good Sentiment remains positive due to Rabi sowing and higher level of reservoirs. Increase in Kharif crop procurement will lead to steady cash inflows, which is expected to drive demand for tractors. In the export market, we have sold 1587 tractors, a last one. 43 percent increase over the year.”

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On a year-on-year (YTD) basis, the company sold 2,52,181 units in April 2021 – November 2021, registering a growth of 9 per cent to 2,32,111 units in the same period a year ago. As far as exports are concerned, the company registered a growth of 87 per cent in sales at 11,366 units as compared to 6,076 units sold a year ago. Overall, the company sold 2,63,547 units registering a growth of 11 per cent as compared to 2,38,187 units sold a year ago.

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