Mumbai, India — Mahindra & Mahindra’s Farm Equipment Sector (FES) announced last week its tractor sales numbers for October 2019 had declined year-over-year.
Domestic sales in October 2019 were at 44,646 units, compared to 46,312 units sold in October 2018, representing a 3.6% decline. Total tractor sales (domestic and imports) during October 2019 were at 45,433 units, down from the 47,376 units sold in October last year. This represents a 4.1% decline.
Exports for the month of October dropped significantly year-over-year, from 1,064 units in October 2018 to 787 last month, a decrease of 26%. This follows news that Mahindra’s export sales fell 12% in their most recent fiscal year, ended March 31.