Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the Mahindra Group, posted a domestic sales of 17,796 for the month of October as compared to 14,800 units for the same period last year, an increase of 20 per cent

Combined September – October festive sales (domestic and exports) registered a record 36 per cent growth at 35758 units, as compared to 26333 units for the same period last year.

“This year the festival sales for Mahindra tractors have been excellent,” said a company release.

As a result of the combined effects of the government’s 57 per cent increase in rural credit disbursements, better MSPs following a good agricultural production year in F-2009 as well as the stimulus inputs provided to boost the rural economy in the form of projects under Bharat Nirman, NREGS etc., there has been a substantial increase in liquidity in rural markets. The spread of festivals and auspicious days over these two months have also extended the beneficial results in sales for the industry,” the release from FES added.

Total tractor sales (domestic + exports) for October 2009 stand at 18772 units, as compared to 15465 units for the same period last year, an increase of 21 per cent.

YTD domestic sales registered a 42 per cent increase at 98407 units, as against 69343 units for the same period last year.

The company’s YTD sales (domestic + exports) registered a 38 per cent increase at 102639 units, as compared to 74358 units for the same period last year.