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    Tractor Sales Registers Sharp Spike in April Thanks To A Good Monsoon Forecast - ET Auto

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    - Tractor sales in India registered a sharp increase in April 2016 thanks to forecasts of a good monsoon. - Mahindra & Mahindra, the largest tractor maker, saw a 22% rise in sales to over 20,704 units. Other companies like Escorts and Sonalika also saw sales increases. - Improved market sentiments from the expected normal monsoon were expected to drive demand for tractors higher in the coming months. Experts forecast the tractor industry could see 20% growth in April and 5-6% growth for the full fiscal year.

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    Tractor Sales Registers Sharp Spike in April Thanks To A Good Monsoon Forecast - ET Auto

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    - Tractor sales in India registered a sharp increase in April 2016 thanks to forecasts of a good monsoon. - Mahindra & Mahindra, the largest tractor maker, saw a 22% rise in sales to over 20,704 units. Other companies like Escorts and Sonalika also saw sales increases. - Improved market sentiments from the expected normal monsoon were expected to drive demand for tractors higher in the coming months. Experts forecast the tractor industry could see 20% growth in April and 5-6% growth for the full fiscal year.

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    Tractor Sales Registers Sharp Spike in April Thanks to a Good Monsoon Forecast _ ET Auto

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    - Tractor sales in India registered a sharp increase in April 2016 thanks to forecasts of a good monsoon. - Mahindra & Mahindra, the largest tractor maker, saw a 22% rise in sales to over 20,704 units. Other companies like Escorts and Sonalika also saw sales increases. - Improved market sentiments from the expected normal monsoon were expected to drive demand for tractors higher in the coming months. Experts forecast the tractor industry could see 20% growth in April and 5-6% growth for the full fiscal year.

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    10 views2 pages

    Tractor Sales Registers Sharp Spike in April Thanks To A Good Monsoon Forecast - ET Auto

    Uploaded by

    Anonymous qRbPsLpuN
    - Tractor sales in India registered a sharp increase in April 2016 thanks to forecasts of a good monsoon. - Mahindra & Mahindra, the largest tractor maker, saw a 22% rise in sales to over 20,704 units. Other companies like Escorts and Sonalika also saw sales increases. - Improved market sentiments from the expected normal monsoon were expected to drive demand for tractors higher in the coming months. Experts forecast the tractor industry could see 20% growth in April and 5-6% growth for the full fiscal year.

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    An initiative of The Economic Times


    #Automotive

    #FarmEquipment

    #MahindraandMahindra

    #ICRA

    #tractor
    #Escorts

    #Tafe

    #Sonalika

    #salesperformance

    #Monsoon

    #April2016Sales

    Tractorsalesregisterssharp
    spikeinAprilthankstoagood
    monsoonforecast
    IndiaslargesttractorcompanyMahindraandMahindraposted22%growthin
    salesforApril,comparedtosameperiodlastyear,ofover20,704units.
    KetanThakkar | ETBureau | 03May2016,8:53AMIST

    MUMBAI:Salesinthefarmtractor
    segment,normallyconsideredas
    thebarometertomeasure
    customersentimentsintherural
    markets,showedasharpspike
    thisApril.
    Consolidatingfurtheritsrecovery
    inApril,fromthelowbaseoflast
    year,tractorsaleswereaidedby
    improvingsentiments,thankstoa
    favourablemonsoonforecast,that
    ledtohighersalesforthemonth.
    India'slargesttractorcompanyMahindraandMahindraposted22%growthinsales
    forApril,comparedtosameperiodlastyear,ofover20,704units,whileFaridabad
    basedEscortssawtractorssalesgrow10.3%involumestoabout4000units.
    SonalikaInternationalTractorstooposteda7%growthinsalesforAprilto5392
    units.ThesecondlargesttractormakerTAFEisyettocomeoutwithitsnumbers.

    RajeshJejurikar,presidentoffarmequipmentdivisionatMahindraandMahindra,
    said:"Withtheannouncementofanormalmonsoonforecastforthisyear,wehope
    improvedmarketsentimentswoulddrivethedemandinthenextfewmonths."
    ExpertssaysAprilandMayusuallyarehigherofftakemonthsduetofillingupof
    inventoryandthistimearoundthelowbaseoflastyearwillalsoreflectinastronger
    doubledigitgrowth.Posttheforecastofastrongmonsoon,MahindraandMahindra
    hadforecastedfora10%growthinthefirstquarterofFY17.
    SubrataRay,seniorgroupvicepresidentatratingsfirmICRA,saysthereisa
    steadyuptickindemandoverthelastthreemonths,Aprilwillseehighergrowth
    thanFebruaryandMarchledbystronggrowthpostedbyMahindraandMahindra.
    "Wemayseeindustrygrowthat20%inApril,butthatisonaccountofalowbase
    andsomeincreasedofftakeonaccountofimprovedsentimentformonsoon.The
    AprilandMayaretraditionallystrongermonthsastheimpactoftheRabicropstarts
    reflectingonvolumes.Weareforecasting56%growthinFY17andwestill
    maintainourguidance,anyrevisionwillbedependentonhowthemonsoonpans
    out,"saidRay.
    KumarBimal,seniorVPmarketingatSonalikaInternationalTractors,however,
    seemedcautiousthatthesituationstillremainsadversewhenitcomesto
    secondarysaletotheendusers.
    "BarringTamilNadu,AndhraPradeshandTelanganawhichhaveseensomeuptick,
    therestofthecountryisstillreelingunderdroughtsituationanddemandscenariois
    tepid.
    Duetoforecastsofgoodmonsoon,wetooareforecastingfor810%growththis
    year,butjustlookingatgrowthoflastfewmonths,Iwon'tsaytherealrecoveryhas
    startedyet,"saidKumar.

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