According to the Economic Times, on Sept. 1, the Indian tractor manufacturer announced that its August domestic tractor sales had fallen 15% to 13,871 units, compared to 16,375 units in August 2018. Additionally, Mahindra reported that its tractor exports had also dropped 33% to 946 units in August 2019, compared to 1,410 units in August 2018.
Overall tractor sales were down 17%, from 17,785 units in August 2018 to 14,817 units in August 2019.
Rajesh Jejurikar, president - farm equipment sector, Mahindra & Mahindra said, “The improved monsoon spread and sowing pattern for the Kharif crop is likely to help boost rural sentiment going into the festive season. The recently announced fiscal measures by the Government may also provide the necessary stimulus for tractor demand uptick,” he added.