Mahindra tractor sales up 29% in October

Company sold a total of 29,565 units in October 2012

Mahindra & Mahindra Ltd today reported 29% increase in its total sales of tractors to 38,263 units in October.

The company had sold a total of 29,565 units in October 2012, M&M said in a filing with the BSE.

Domestic tractor sales were up 30% at 37,352 units during the period as against 28,872 in the same month last year.

Exports during the month increased by 5% to 731 units as against 693 units in October last year.

Commenting on the monthly performance, Mahindra & Mahindra Ltd Chief Executive (Tractor and Farm Mechanisation) Rajesh Jejurikar said: "The tractor industry continues to do well overall and has seen a healthy growth this fiscal. At Mahindra, we are happy to maintain a robust growth momentum with a 30% growth during October."

This is on the back of a good monsoon, improved cash flows as well as greater mechanisation, he added.