Tractor sales of Mahindra and Mahindra’s Farm Equipment Sector experienced a 22% increase during the month of November 2012. The company sold 19,757 units in domestic markets thus maintaining their leadership position in tractor industry. Reaching a sales figure of 19,757 in November 2012 as against 16,175 in November 2011 resulted in a 22%YoY growth. Taking both domestic sales and exports into account Mahindra Tractors sold 20,476 units in November 2012 as compared to 17,527 units in November 2011, a growth of 17%.
M&M farm equipment sector exported 719 units during the month under review while total vehicle sales during the same month rose 18% to 48,143 units as compared to 40,722 units in November 2011. Stocks also perked up as M&M worked towards taking on the iconic British car company Aston Martin. Talks between the two sides over strategic stake in the UK car company have been boosted while M&M have also received endorsement from Unite, UK’s biggest labor union.
However, auto analysts are still uncertain over the fit between M&M’s tractors, their boxy utility vehicles and the sleek and luxurious Aston Martin and further results of talks or finalization of contract are awaited.