M&M tractor sales down 8 pc in February

Mahindra & Mahindra Friday reported eight per cent decline in total tractor sales at 18,978 units in February as against 20,658 units in the same month last year.

The company had sold 18,105 units of tractors in domestic market last month as compared to 19,442 units in February 2018, down 7 per cent, Mahindra & Mahindra (M&M) said in a statement.

Exports also declined last month by 28 per cent to 873 units as compared to 1,216 units in the year-ago period.

On the sales performance, M&M President Farm Equipment Sector Rajesh Jejurikar said the tractor industry has remained subdued in February.

However, "it is expected that positive sentiment associated with the recently executed direct beneficiary transfers to marginal farmers and other pro-rural initiatives by the government, will help create momentum for tractor sales in the near term", he added.