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By Staff
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Google Oneindia News

Mumbai, Aug 1 (UNI) Lukewarm sales in farm equipment market has pushed down Mahindra&Mahindra's tractor sales by 9 percent even as exports grew by 18 percent in this segment.

The Company sold 6368 tractors in July in current fiscal as aginst 7000 in July past year while total sales volume for the month also showed a sharp decline to 6987 from 7526 in FY07.

''This was a reflection of a seasonal slowdown in the whole industry and we hope things will be better in the months ahead.'', said a company spokesperson.

Cumulative sales during April-July also went down marginally by one percent with total sales volume declining from 34884 units in last year to 34278 units in this year. However, tractor exports in July brought relief as it grew by 18 percent during the month.

Meanwhile, M&M's automotive segment, mainly comprising passenger cars, clocked an impressive domestic sale margin in July as the company rolled out 2890 units of frugal and affordable wide body Sedan Logan.

Domestic sales were recorded at 18536 units, registering a growth of 49 percent, as opposed to 12481 units in the curresponding period last fiscal.

However, automotive exports witnessed a 4 percent dip in July to 527 units from 655 units in the curresponding period in last fiscal.

Company said Logan and utility vehicle Scorpio topped in respective segments during the period. Logan sold a total of 8065 units since it was launched in April this year. In May, company had sold 2,786 units of Logan in 11 cities in domestic market.

UNI

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