Mahindra reports 2% increase in tractor sales to 46,558 units in Oct

Mahindra & Mahindra (M&M) on Sunday reported a 2 per cent increase in its tractor sales at 46,558 units in October.

The company had sold 45,433 units of tractors in October 2019, Mahindra & Mahindra (M&M) said in a statement.

Domestic sales grew 2 per cent to 45,588 units in October this year compared to 44,646 units in the year-ago month, it added.

Exports during the month stood at 970 units, as compared to 787 units in October last year, up 23 per cent, the company said.

"We continue to witness unprecedented retail demand which is likely to be higher than wholesale numbers on back of expectations of a higher Kharif output and good cash flow in the market," M&M President - Farm Equipment Sector Hemant Sikka said.

Auspicious festival days ahead, coupled with mechanisation requirements for ongoing Kharif harvesting and impending Rabi sowing season augurs well for the industry, he added.