Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 16.7 billion Mahindra Group, today announced its tractor sales numbers for February 2014. The sales were at 16,552units in the domestic market, as against 13,944units in February 2013, a growth of 19%. The company’s overall sales have also grown by 18%, reaching 17,592 units during February 2014.
Commentingon the monthly performance, Rajesh Jejurikar, Chief Executive, Tractor and Farm Mechanization, Mahindra & Mahindra Ltd. said, “We have achieved a cumulative domestic growth of 23% till February 2014. Tractor demand for FY14 till date has been robust due to a favorable monsoon and higher minimum support prices. The shortage of labour at farms has given a boost to mechanization resulting in higher demand for tractors.”
FARM EQUIPMENT SECTOR |
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February 2014 |
Cumulative February 2014 |
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F 13 | F 14 | %Change | F 13 | F 14 | %Change | |
Domestic |
13944 |
16552 |
19% |
196045 |
240699 |
23% |
Exports * |
917 |
1040 |
13% |
10510 |
9262 |
-12% |
Total |
14861 |
17592 |
18% |
206555 |
249961 |
21% |