New Delhi: Domestic tractor sales witnessed a substantial slowdown in November after record-breaking high volume sales during the festive month of October.
On the other hand, tractor export figures for the last month are also the lowest for the present year, reported The Hindu Businessline.
While 1,18,232 units were sold in October, the figure fell down to 71,300 units in November, which is even lower than the tractor sales figure during the same time last year. In November 2023, 72,266 units were sold, according to the data provided by the Tractor & Mechanisation Association (TMA).
Tractor exports are continuing to face challenges with total shipments during November being lower at 6,963 units when compared with 7,097 units in October this year.
Meanwhile, tractor production in November stood at 74,854 units, down from 94,771 units in October this year.
“The slight decline in the industry is attributed to the shift in the timing of the Diwali and Dhanteras festive season compared to the previous year, said Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd.