Mahindra & Mahindra’s Farm Equipment Sector reported that its domestic tractor sales fell 8% and exports increased by about 2% in April. Escorts Ltd.’s Agri Machinery Segment also reported a falloff in domestic sales during the month, but a healthy pick up in exports.
Mahindra said it sold 26,495 units domestically in April vs. 29,884 tractors in the same month in 2018. Export sales were 1,057 tractors during the month, a year-over-year increase of 2%.
Escorts, another one of India’s tractor makers, reportedly sold 4,986 units domestically in April, a decline of 18% vs. April 2018 when sales were 6,094 units. Exports, on the other hand, increased by more than 200% with 278 tractors sold outside of the country compared to 92 units a year ago. Overall, Escorts sold 6,094 units in April.
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