Escorts Agri Machinery records 46% drop in Feb tractor sales

Escorts Agri Machinery (EAM) in February 2022 sold 6,114 tractors as against 11,230 tractors sold in February 2021, a drop of 45.6 percent year-on-year.

Domestic tractor sales in February 2022 stood at 5,686 tractors as against 10,690 tractors in February 2021. The tractor industry wholesales continued to remain subdued in February 2022, due to high base of last year, steep price increases due to higher inflation in commodity prices impacting retails and above normal inventory levels with the channel.

Going forward, the company expects overall higher rabi sowing this year, good level of water reservoirs, increased Union budget allocations to rural and agri sector and initial indicators of normal monsoon next year will drive positive momentum for tractor industry in coming year.

Export tractor sales in February 2022 stood at 428 tractors against 540 tractors sold in February 2021

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