INDIA - Mahindra Tractors, the farm equipment division of Mahindra & Mahindra has recorded a drop of 38 per cent in domestic tractor sales at 10,267 units during February 2015.
During the same month last year, the company sold 16,553 units, the company said in a statement recently.
However, the company exports for the month recorded an increase of 13 per cent to 1170 units, as compared to 1040 units in February 2014.
Overall total tractor sales (domestic and exports) during February 2015 was recorded at 11,437 units, as against 17,593 units for the same period last year, registering 35 per cent decrease.
Commenting on the monthly performance, Rajesh Jejurikar, Chief Executive, Farm Equipment and Two Wheeler Division, Mahindra & Mahindra Ltd said: "We have registered a sale of 10,267 units during February 2015.
"With negative sentiments and low crop output during this period the industry continues to witness de-growth. At Mahindra, we have seen a positive trend in exports which have grown by 13% during February 2015."
The company cumulative domestic tractor sales from April 2014 to February 2015 sales were down by 13 per cent at 209,765 units, as compared to 240,700 units sold during the same period last year.
However, exports during the 11 month period were up by 30 per cent to 12004 units, against 9262 units exported during the earlier year.
But the company’s cumulative sales including exports were down by 11 per cent to 221,769 units during April 2014 to February 2015, against 249,962 units a year earlier.