Mumbai: Mahindra & Mahindra’s Farm Equipment Sector, part of the USD 19.4 billion Mahindra Group, on Monday announced that it’ll hike prices of its range of tractors, across models from January 1, 2021.
“This has been necessitated due to the increase in commodity prices. Details of the price increase across different models will be communicated in due course” the company said in a statement.
Last week, the company had announced price hike of its range of passenger and commercial vehicles effective January 1, 2021.
Mahindra FES has reported 56 per cent rise in its tractor sales at 32726 units in November against 21031 units in November 2019. Domestic sales in November 2020 were at 31,619 units, as against 20,414 units during November 2019. Exports for the month stood at 1,107 units.
Cumulative sales till November grew by 6 per cent to 238187 units against 224634 units in the corresponding period last year.