Domestic tractor sales were down 83 per cent at 4,716 units last month as against 27,495 units in April 2019, it added.
Mahindra & Mahindra (M&M) on Friday reported 83 percent decline in total tractor sales at 4,772 units in April with lockdown impacting sales. The company had sold a total of 28,552 units in the same month last year, M&M said in a statement.
Domestic tractor sales were down 83 per cent at 4,716 units last month as against 27,495 units in April 2019, it added.
Exports were at 56 units last month as compared to 1,057 units in the year-ago period, a decline of 95 per cent, the company said.
Commenting on the sales performance, M&M President - Farm Equipment Sector Hemant Sikka said,"The extension of the national lockdown impacted the business, with dealers partially open for just a few days."
On the outlook, he said,"Going forward, several positive factors including a good Rabi output, opening of procurement centres by the government, indication of good crop prices, reservoir levels etc., augur well for tractor demand."
Sikka, however, said,"The rate of improvement will depend on how quickly the on-ground sales operations, including the start of NBFCs are normalised, following the relaxation of the lockdown."First Anniversary Offer: Subscribe to Moneycontrol PRO’s annual plan for ₹1/- per day for the first year and claim exclusive benefits worth ₹20,000. Coupon code: PRO365
