Chennai, July 01: Automobile manufacturer Mahindra and Mahindra (M&M) Wednesday said its tractor sales jumped 52 percent last month to 18,243 units from 12,008 units sold in the like period last year.
The company’s domestic sales went up from 11,054 tractors in June 2008 to 17,811 last month, while exports fell from 954 units to 432, it said in a statement.
“The lowering of interest rates, easing of credit disbursements, improved economic conditions in the agriculture sector and also the success of some of our recently introduced models have contributed to the higher sales,” said Anjanikumar Choudhari, president (farm equipment sector) of M&M.
The company has sold 43,383 tractors (domestic 41,963 and exports 1,420 ) during the April-June period this year as against 30,123 units (domestic 28,004 and exports 2,119) in the like period last year.
In the automotive segment (utility vehicles, three wheelers and cars), M&M sold 22,999 vehicles last month, up from 19,371 units sold in June 2008.
M&M’s total sales in the auto segment during April-June stand at 62,869 units as against 60,054 units sold in the corresponding period last year.
–Agencies