Mahindra tractor sales up 19.53% in May

Company reported total tractor sales at 23,018 units in May

Homegrown auto major Mahindra & Mahindra on Wednesday reported 19.53% increase in total tractor sales at 23,018 units in May.

The company had sold 19,257 units in the same month last year.

Domestic tractor sales grew by 21.39% to 22,148 units in May as against 18,245 units in the year-ago month, the company said in a statement.

Exports during the month declined by 14% to 870 units compared with 1,012 units in the same month a year ago, it added.

Commenting on the sales performance, Rajesh Jejurikar, president and CEO farm equipment and two-wheeler division, M&M, said, "We are happy to see a sustained momentum in tractor sales during May. Our recent launch of the new Mahindra YUVO tractor platform has received an excellent response in the Indian market."

On the outlook, he said: "We hope that the positive monsoon forecast, advance estimate of Rabi crop production and increase in MSP will boost agriculture income and positively impact demand going forward.