Mahindra tractor sees 18% growth; overall sales down by 12% in Feb

MUMBAI: Mahindra Group's tractor arm today reported an 18 per cent growth in sales at 17,592 units in February, driven by a favourable monsoon and higher minimum support prices.

The company had sold 14,861 units in February 2013, it said in a release here. The domestic sales grew 19 per cent to 16,552 units as against 13,944 a year ago. The exports also logged a 13 per cent growth at 1,040 units, compared with 917 units shipped out in February 2013.

"Tractor demand for the current fiscal till date has been robust due to a favourable monsoon and higher minimum support prices," Mahindra & Mahindra chief executive for Tractor and Farm Mechanisation Rajesh Jejurikar said. The shortage of labour at farms has given a boost to mechanisation, resulting in higher demand for tractors, he said, adding, "we have achieved a cumulative domestic growth of 23 per cent till February."