Auto Sales December 2021: Mahindra Farm Equipment Registers 21% Sales Decline In Domestic Market

Domestic sales in December 2021 were at 16,687 units, as against 21,173 units sold in the same month last year, which is a drop of 21 per cent.

By Charanpreet Singh

1 mins read

Published on January 4, 2022

Highlights

Mahindra's domestic tractor sales stood at 16,687 units in December 2021
The company recorded 29.9% drop MoM in the domestic market
Exports for the month stood at 1,582 units.

Mahindra & Mahindra's Farm Equipment Sector has released the monthly sales numbers for December 2021. The company's total tractor sales (Domestic + Exports) last month stood at 18,269 units, as against 22,417 units for the same period a year ago, recording a year-on-year (YoY) decline of 19 per cent. Domestic sales in December 2021 were at 16,687 units, as against 21,173 units sold in the same month last year, which is a drop of 21 per cent. Compared to 26,094 tractors sold in November 2021, the company has recorded a Month-on-Month (M-o-M) de-growth of 29.9 per cent in the domestic market. Also Read: Auto Sales December 2021: Mahindra Auto Sees 11% Growth YoY Mahindra's Farm Equipment Sector sells 16,687 units in the domestic market in December 2021 Commenting on the performance, Hemant Sikka, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, "We have sold 16687 tractors in the domestic market during December 2021. Degrowth in December has been on account of a combination of factors, including high base of last year and both delayed and very heavy rainfall in some geographies. We expect momentum to recover in the coming months on account of good progress of Kharif procurement bringing liquidity in the hands of farmers and Rabi acreage showing signs of growth over last year. In the exports market, we have sold 1582 tractors, a growth of 27% over last year. Exports for December 2021 stood at 1,582 units, witnessing a growth of 27 per cent against 1,244 units sold in December 2020. Compared to 1,587 units exported from India in November, the company registered a marginal decline Month-on-Month (M-o-M). Exports for the month stood at 1,582 units. As far as cumulative sales are concerned, the company registered a growth of 8 per cent selling 281,816 units in the April- December period as compared to 260,604 units sold in the same period last month. During the same period, the company sold 268,868 units in the domestic market against 253,284 units, registering a growth of 6 per cent. Mahindra's exports went up by 77 per cent at 12,948 units as compared to 7,320 units sold in the same month a year ago. Overall, the company recorded an uptick of 7.4 per cent selling 2,60,604 units in the April-December period as compared to 2,42,625 units sold in the same period last year.