M&M auto sales meet street expectations; tractor sales rise 3%

In the commercial vehicles segment, the company sold 16,018 vehicles in December 2019, down 5 percent from 16,906 vehicles sold in December 2018.

The medium and heavy commercial vehicles segment witnessed a 42 percent annual decline in sales at 478 vehicles for the month while 3-wheeler sales grew 14 percent to 5,372 units.

“Our performance in the month of December is as per year-end sales outlook and currently we are also comfortable with our overall stock levels. As we get into the new year, we are fully equipped to roll out our BSVI products and have taken all requisite measures for a smooth transition over the next three months,” Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, M&M Ltd.

M&M’s total tractor sales in December 2019 rose by 3 percent to 17,990 units as compared to 17,404 units in December 2019.

Domestic tractor sales were up 4 percent at 17,213 units tractor exports for the month stood at 777 units.

“Tractor demand looks positive in the near term led by the expectation of a better Rabi output, supported by crop prices and government thrust on irrigation, rural infra & agriculture sector,” said Rajesh Jejurikar, President - Farm Equipment Sector, M&M Ltd.