Mahindra Farm Equipment Sector (FES) sales flat for 2014 May
Mahindra and Mahindra Ltd’s Farm Equipment Sector (FES) maintained its leadership position in the Indian tractor industry during May 2014. For the month, domestic sales stood at 23132 units. When compared with 22471 units sold during May 2013, it equates to 3% sales increase over the month.
Total tractor sales (domestic + exports) during May 2014 stood accounted for 23940 units, as against 23626 units over May 2013, eqauting to 1% sales increase. Performance was on a decline on the export front with 808 units as compared to 1155 units sold in May 2013. Exports include CKD units.
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 23132 tractor units in the domestic market during May 2014. We do hope that the onset of monsoon would add buoyancy to the farmers’ morale and lead to growth in the agricultural sector”.
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Part of the $16.5 billion Mahindra Group, apart from Farm Equipment Sector, group businesses include agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler sector.