The farm equipment division of Indian automotive-maker Mahindra and Mahindra on Wednesday said its total tractor sales for March fell by 31 percent at 12,254 units against 17,673 for the same month last year owing to dampened demand.
Domestic sales of tractors fell by 37 percent at 10,392 units against 16,571 units during March 2014. Exports, however, rose by 69 percent for the month at 1,862 units.
"Unseasonal rains and hailstorms have adversely affected market sentiments," the company's president and chief executive of farm equipment and two-wheeler division Rajesh Jejurikar said in a statement.
The company's overall automobile, two-wheeler and farm equipment sales in March fell by 12 percent at 45,212 units against 51,636 sold in the corresponding month of 2014.
Total sales for the fiscal year 2014-15 declined by eight percent at 464,848 units from 507,176 units sold in the previous fiscal.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app