Mahindra and Mahindra tractor sales fall 8% to 16,379 units in July
Passenger vehicle sales declined for the 15th consecutive month in July
Mumbai: Passenger vehicle sales at Mahindra and Mahindra Ltd (M&M), India’s largest sports utility vehicle (SUV) maker, declined for the 15th consecutive month in July.
The Mumbai-based firm sold 14,708 units in July, down 5% compared with the figures from a year ago. Total domestic sales across of the firm fell by 4% to 33,047 units in July.
“The overall sales during the last month was subdued and the market remained challenging. With the monsoon now setting in across the country as well as the ensuing festival season, we expect positive sentiments in the coming months resulting in enhanced demand for our products," said Pravin Shah, chief executive, automotive division & international operations.
Domestic tractor sales at M&M, a market leader in the farm equipment segment, fell by 8% to 16,379 units in July, the company said.
“A delay in the arrival of monsoon has led to late sowing and has impacted farmer sentiment leading to lower sales of tractors in July. We do hope that the rains picking up in the month of July across the country will give a boost to the farmers’ morale and the agriculture industry alike," said Rajesh Jejurikar, chief executive, farm equipment and two wheeler division.
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