Mahindra & Mahindra's January sales fell 25 percent, tractor sales up 50 percent

 new Delhi. On Monday, Mahindra & Mahindra released its January sales figures. According to the company, total sales in January declined by 25.49 percent to 39149 units. In the same period last year, the company sold 52546 unit vehicles. Sales of passenger vehicles in the domestic market increased by 4 percent to 20634 units. In January 2020, 19797 units were sold. At the same time, exports grew by 30 per cent to 2286 units during this period, compared to 1761 units of vehicles exported a year ago.

image credit: mahindra

The company's sales in commercial vehicle segment decreased by 47.62 percent over the previous year. In January 2021, the company sold 16229 commercial vehicles, compared to 30988 a year earlier. Vijay Nakra, CEO of the company's automotive division, said that in the month of January, there has been a 5% growth in utility vehicles. At the same time, there is an increase in booking due to continued demand. However, he said that the shortage of micro-processor semi-conductors remains a serious challenge for the vehicle industry. He said that the company is working with a supply partner to deal with the problem.

At the same time, total tractor sales of the company increased by 50 percent to 34778. In the same month last year, the company sold 23116 units of tractors. Tractor sales in the domestic market increased to 33562 units from 22329 last year. At the same time, the total export of tractors grew by 55 per cent to 1216 units. Hemant Sikka, president of the company's farm equipment sector, said the demand for tractors is strengthening due to increasing area of ​​rabi, adequate water conditions and better cash position with farmers.