M&M sold 15,918 units in the domestic market in November, down from 20,819 during November 2015. Total tractor sales (domestic and exports) were 17,262 units, as against 21,717 for the same period last year. Exports for the month were 1,344 units.
INDIAN TRACTOR INDUSTRY AT A GLANCE IN 2015 - 2016
While domestic tractor volumes grew 25.2 per cent in April-October of 2016, first seven months of this financial year, it fell in November with the cash shortage after demonetisation. Market leader Mahindra & Mahindra (M&M) saw a 24 per cent year-on-year drop in sales for a couple of months.
Credit rating agency ICRA projects growth of nine to 10 per cent in volumes for the entire year, keeping in mind the impact of demonetisation over the near term. In the long run, it maintains a compounded annual growth rate of eight to nine per cent in volumes for the industry .
M&M sold 15,918 units in the domestic market in November, down from 20,819 during November 2015. Total tractor sales (domestic and exports) were 17,262 units, as against 21,717 for the same period last year. Exports for the month were 1,344 units.
M&M sold 15,918 units in the domestic market in November, down from 20,819 during November 2015. Total tractor sales (domestic and exports) were 17,262 units, as against 21,717 for the same period last year. Exports for the month were 1,344 units.
