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 May 2014.

Total tractor sales (domestic + exports) during May 2014 stood at 23,940 units, as against 23,626 units for the same period last year, a growth of 1.33%.

The sales were at 23,132 units in the domestic market, as against 22,471 units in May 2013, a growth of 2.94%. Exports for the month stood at 808 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 23,132 tractor units in the domestic market during May 2014. We do hope that the onset of monsoon would add buoyancy to the farmers’ morale and lead to growth in the agricultural sector''.

Shares of the company declined Rs 19.95, or 1.62%, to trade at Rs 1,210.55. The total volume of shares traded was 13,668 at the BSE (9.50 a.m., Monday).