Tractor sales grow on demand from agri and non-agri sectors

New Delhi : Even as sales declined in the passenger vehicle segment for the first time in nearly 30 months this July, tractor sales continue to post sturdy growth numbers on the back of favourable monsoons and increased use of farm equipment for construction work.

Sanjeev Goyle, senior vice-president (marketing, farm equipment sector), Mahindra & Mahindra, said: “Tractor sales are directly proportional to rainfall. Till August, rainfall was 95 per cent of what was initially projected by the government, which led to a spurt in sales. The minimum support price for staple crops have gone up by over 40 per cent in the past two years and there is credit availability in the agricultural economy. We are expecting double-digit growth in sales this financial year.”