Highest ever growth of 31% in monthly domestic sales
Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the U.S. $7.1 billion Mahindra Group, maintained its leadership position in the tractor industry in October, 2010.
Total tractor sales (domestic + exports) in October 2010 stood at 24281 units, as against 18772 units for the same period last year, an increase of 29%.
For the period April to October 2010, total cumulative sales (domestic + exports) stood at 119938 units, as compared to 102639 units for the corresponding period last year, an increase of 17%.
Domestic sales in October 2010 stood at 23378 units, as against 17796 units for the same period last year, thereby registering a growth of 31%. This is by far the highest ever monthly domestic sales. The exports during the month of October 2010 stood at 903 units, as against 976 units for the same period last year.
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About The Mahindra Group
Mahindra embarked on its journey in 1945 by assembling the Willys Jeep in India and is now a US $7.1 billion Indian multinational. It employs over 1,00,000 people across the globe and enjoys a leadership position in utility vehicles, tractors and information technology, with a significant and growing presence in financial services, tourism, infrastructure development, trade and logistics. The Mahindra Group today is an embodiment of global excellence and enjoys a strong corporate brand image.
Mahindra is the only Indian company among the top tractor brands in the world. It is today a full-range player with a presence in almost every segment of the automobile industry, from two-wheelers to CVs, UVs, SUVs and sedan. Mahindra recently acquired a majority stake in REVA Electric Car Co Ltd. (now called Mahindra REVA), strengthening its position in the Electric Vehicles domain.
The Mahindra Group expanded its IT portfolio when Tech Mahindra acquired the leading global business and information technology services company, Satyam Computer Services. The company is now known as Mahindra Satyam.
Mahindra is also one of the few Indian companies to receive an A+ GRI checked rating for its first Sustainability Report for the year 2007-08 and has also received the A+ GRI rating for the year 2008- 09.
