Farm equipment giant Mahindra and Mahindra showed a spiking 47% growth in its tractor business this November. Festive season is said to be the major reason for this sales boost. In a company release Mahindra’s spokesperson said “Domestic sales in November 2015 stood at 20,819 units, as against 14,207 units during November 2014. Total tractor sales (domestic + exports) during November 2015 stood at 21,717 units, as against 15,333 units for the same period last year. Exports for the month stood at 898 units.”
Adding on to this Rajesh Jejurikar, President and Chief Executive – Farm Equipment and Two Wheeler Division, Mahindra & Mahindra Ltd. said, “We have sold 20,819 tractors in the domestic market during November 2015, which is growth of 47 per cent over last year on the backdrop of improved sentiments due to festive season. “We hope for the rural economy to steadily revive going forward. In the export market, we sold 898 tractors during November 2015.”
Mahindra and Mahidra the largest UV maker said that it sold 11500 vehicles in domestic market on Dhanteras this year. Company posted a new high with the range of its protofolio of its SUVs Bolero , TUV 300 , Scorpio , XUV 300 . Since Dhanteras is said to be the auspicious day to buy new vehicle the company made the record sale on the day . With positive sentiment in the market and low interest rates offered by Banks , customers have shown an great interest in buying SUVs and MUVs this season .
The newly launched TUV 300 made a spectacular debut in the market with 12000 bookings in mid September . The company was forced to increase its manufacturing capacity to 5000 units per month because of the response .Also the lower end SUV Bolero broke the record made by Hyundai creata as the highest selling SUV .
Bihar, Madhya Pradesh, Uttar Pradesh and Rajasthan have contributed significantly to the sales for Mahindra . With this high Mahindra is said to pose a 19% growth in the passenger vehicle sale this October .