Tractor sales rise by around 30% in February 2021 to 84,690 units
Tractor sales rose by around 30 per cent in February 2021 to 84,690 units, from 64,937 units, during the same month last year. Tractor demand continues to be robust with rabi sowing at an all-time high, supported by healthy reservoir levels and higher liquidity with farmers among others, said industry representaives.
February 2021 sales were lower compared to January 2021 sales of 87,579 units and production of 96,020 units.
Hemant Sikka, president – Farm Equipment Sector, Mahindra & Mahindra Ltd, said that tractor demand continues to be robust with rabi sowing at an all-time high, supported by healthy reservoir levels and higher liquidity with farmers, on account of timely and robust procurement of kharif crops. The outlook for the industry continues to be positive given the all-time high estimates of rabi production and strong rural cash flows.
The company sold 27,170 tractors in the domestic market during February 2021, a growth of 24 per cent over the last year. In the exports market, the company sold 976 tractors, a growth of 43 per cent over the last year.
Mahindra & Mahindra Ltd’s Farm Equipment Sector (FES) is part of the $ 19.4 billion Mahindra Group.
Escorts Ltd’s Agri Machinery Segment (EAM) said that tractor demand is expected to continue to be strong on the back of positive macroeconomic factors and strong rural cash flows. The supply side situation is normal, but rising inflation continues to be a worry.
In February 2021, the company sold 11,230 tractors, its highest ever February sales and registered a growth of 30.6 per cent against 8,601 tractors sold in February 2020.
Domestic tractor sales in February 2021 stood at 10,690 units, a growth of 32.8 per cent against 8,049 tractors sold in February 2020.
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