Mahindra & Mahindra Farm Equipment Sector (FES), a part of the USD 16.5 billion Mahindra Group, maintained its leadership position in the Indian tractor industry during October 2014. Domestic sales in October 2014 stood at 30,800 units, as against 37532 units during October 2013.

Total tractor sales (domestic + exports) during October 2014 stood at 31,907 units, as against 38,263 units for the same period last year, a fall of 16.61%. Exports for the month stood at 1,107 units.

Commenting on the monthly performance, Rajesh Jejurikar, chief executive, Farm Equipment and Two Wheeler Division, Mahindra & Mahindra said, ''We have registered a sale of 30,800 units during October 2014. The delayed rains and sowing has led to a sluggish industry. Our recently launched Arjun Novo tractor has been very well received in the market and we hope that this will help us drive sales in a challenging environment.''

Shares of the company declined Rs 38.8, or 2.98%, to trade at Rs 1,264.60. The total volume of shares traded was 77,769 at the BSE (11.27 a.m., Monday).