The farm equipment division of Indian automotive-maker Mahindra and Mahindra on Wednesday said its total tractor sales for March fell by 31 per cent at 12,254 units against 17,673 for the same month last year owing to dampened demand.
Domestic sales of tractors fell by 37 per cent at 10,392 units against 16,571 units during March 2014. Exports, however, rose by 69 per cent for the month at 1,862 units.
“Unseasonal rains and hailstorms have adversely affected market sentiments,” the company’s president and chief executive of farm equipment and two-wheeler division Rajesh Jejurikar said in a statement.
The company’s overall automobile; two-wheeler and farm equipment sales in March fell by 12 per cent at 45,212 units against 51,636 sold in the corresponding month of 2014.
Total sales for the fiscal year 2014-15 declined by eight per cent at 464,848 units from 507,176 units sold in the previous fiscal.
