Escorts Posts 21.7% Decline In Tractor Sales At 5,693 Units In August


Farm equipment and building gear main Escorts on Wednesday reported 21.7 % decline in complete tractor gross sales at 5,693 models in August 2021. The firm had bought a complete of seven,268 models in the identical month final 12 months, Escorts stated in a regulatory submitting. 

Domestic tractor gross sales have been down 27.1 % at 4,920 models as in opposition to 6,750 models in August 2020, it added. Escorts stated this 12 months’s August gross sales usually are not strictly comparable with these of the year-ago month as a result of existence of pent-up demand final 12 months, put up COVID-19 nationwide lockdowns.

Exports have been, nonetheless, up 49.2 % at 773 models as in comparison with 518 models within the year-ago month, the corporate stated.

On the outlook, Escorts stated, “As we enter festive season months, we see farmer sentiment strong and enquiry level building up, driven by favourable macroeconomic factors, reasonably good water level of reservoirs, good pace of Kharif sowing and continued support by the government in agri sector.”

Some elements of the nation have confronted a deficit of rainfall in July and August, and it stays to be seen how the monsoon behaves in September. Inflation continues at unprecedented ranges, it added.

(PTI)




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