Mahindra & Mahindra mentioned that the scarce monsoon is expected to blow its tractor sales in the present economic year. The company is expected to see a recession with general development at 5-7% in 2009-10.
The company is also seeing a fall in export from its Chinese operations. Nevertheless, Indian sales in the Asian country have not been affected due to several incentive proposed by the Chinese government.
M&M posted a 4% rise in Indian tractor sales in August at 10,160 units as opposed to 9,781 units in the same time frame in 2008. Total sales, comprising exports, for the month of August recorded a 2% rise at 10,645 units more than 10,427 units for the same period in 2008.
In the meantime, the SUV and tractor chief is considering developing its tractor portfolio with the introduction of 4 new brands in the present economic year. The latest tractors would be introduced in the 35-60 horsepower series.