M&M Ltd. Tractors record 19% growth in Sales in June 2008
Mumbai Tuesday July 1, 2008 (DriveInside.com)
Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the U.S. $6.7 billion Mahindra Group, significantly consolidated its leadership position in the tractor industry in June 2008.
For the month of June 2008, domestic sales of tractors of Mahindra & Mahindra Ltd. were 11054 nos., a growth of 16% and exports during the month were 954 nos., a growth of 69% over the corresponding month last year. Total sales for the month were 12008 nos., a growth of 19% over the corresponding month last year.
Cumulatively, during this fiscal, Mahindra & Mahindra tractors sales in the domestic market were 28004 nos., a growth of 11% while total sales including exports were 30106 nos., a growth of 10% compared to the corresponding April – June quarter last year.
Mr. Anjanikumar Choudhari, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “Mahindra tractors sales have shown encouraging growth this quarter. Sales have been particularly good in the states of U.P, M.P. and Bihar which have experienced good rains. The recently launched Mahindra 295 model and the Arjun tractor which was re-launched last year have shown excellent growth. Increased participation in retail finance by Mahindra & Mahindra Financial Services Limited has significantly mitigated the uncertainties of bank finance during this month.”