The farm equipment sector of automobile major Mahindra & Mahindra Ltd has witnessed a sharp decline in sales of tractors in the domestic market during Feb 2015 as against the same month last year.

However, the company was able to register a 13 per cent increase in exports of tractors during Feb 2015 as compared to Feb 2014.

In its filings with the stock exchanges, M&M said that the company sold 10,267 tractors in the domestic market during Feb 2015, marking a 38 per cent fall compared to 16,553 units sold in the same month in 2014. Exports for the month however showed an improvement with exports going up to 1,170 vehicles as against 1,040 vehicles in Feb 2014, marking a 13 per cent increase. The tractor total sales (domestic and exports) at 11,437 units in Feb 2015 was a 35 per cent decline as compared to 17,593 units sold in Feb last year.

On a cumulative basis, the total tractor sales in 2014-15 FY was 2,09,765 vehicles in the domestic market, a 13 per cent declined compared to 2,40,700 units sold during the same period last year. Exports recorded a sharp jump to 12,004 units as against 9,262 units in the April-Feb period during last fiscal, a 30 per cent increase. The total sales during April-Feb 2014-15 FY has been 11 per cent less compared to the corresponding period in the previous fiscal.

Rajesh Jejurikar, Chief Executive, Farm Equipment and two wheeler division, M&M, commenting on the performance, said: "With negative sentiments and low crop output" during this period (Feb 2015), the industry "continued to witness de-growth". The company had experienced a positive trend in exports which grew by 13 per cent during Feb this year.