Escort tractor sales fall 43% from March
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The passenger vehicle business of Mahindra & Mahindra Ltd. recorded total sales of 18,285 units in April, the company said in a statement.
The passenger vehicle was up 9.5% from a month ago as demand for its utility vehicle improved further. Year over year sales are not comparable due to the covid lockdown last year.
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Overall auto sales for M&M’s auto division fell 9.8% from a month ago to 36,437 units.
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The utility vehicle segment, including electric three-wheelers, sold 16,147 units in April.
“As lockdown restrictions increase in many parts of the country, we anticipate continued supply chain challenges in production,” Veejay Nakra, managing director of M&M Ltd’s automotive division, said in a statement. , adding that while demand remains good, they expect an impact. in the first quarter due to low customer movement and dealer activity due to lockdown restrictions.
The Farm Equipment segment meanwhile saw sales fall 11% in April to 27,523 units from 30,970 units sold last month.
Domestic tractor sales also fell 12.3 percent to 26,130 units over the past month, while exports jumped nearly sevenfold to 1,393 units over the past month.
“There have been supply chain disruptions due to localized lockdowns and oxygen availability, as well as the closing of dealerships in a few states, which has impacted demand dynamics” , said Hemant Sikka, President – Agricultural Equipment Sector, Mahindra & Mahindra Ltd. in a statement, adding that the company expects demand for tractors to rebound as farmers start preparing their land for crops in Kharif in the coming weeks.