M&M tractor sales down 4 pc at 47,376 units in October

Mahindra & Mahindra (M&M) on Friday reported 4 per cent decline in total tractor sales at 47,376 units for October.

The company had sold 45,433 units in the same month last year, M&M said in a regulatory filing.

Domestic tractor sales were at 46,312 units as compared to 44,646 units in October last year, down 4 per cent.

Exports, last month, were at 1,064 units as compared to 787 units in the year-ago period, a decline of 26 per cent, the company said.

Commenting on the sales performance, M&M President - Farm Equipment Sector Rajesh Jejurikar said, "The festive season has seen improvement in demand uptick. The retail momentum has been good in October with a healthy double digit growth compared to October last year".

Higher reservoir levels, adequate soil moisture condition and an improved MSP of Rabi crop, augur well for tractor demand in the next few months, he added.