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Escorts records 9.2% growth in tractors sales in September

Capital Market 

Escorts Agri Machinery Segment in September 2020 sold 11,851 tractors, its highest ever September sales and registering a growth of 9.2% against 10,855 tractors sold in September 2019.

Domestic tractor sales in September was at 11,453 tractors registering a growth of 8.9% against 10,521 tractors in September 2019.

The rural demand continues to remain positive led by lower base of last year, pent-up demand from Covid-19 related lockdowns, and fundamentally positive macroeconomic factors. Timely and widespread monsoon, record Rabi crop production, early Kharif sowing, and good availability of retail finance have helped drive positive farmer sentiment.

While currently operating close to our peak capacity, we are trying to further ramp up production and supply to meet the excess demand. We remain optimistic for the coming festive season.

Export tractor sales in September 2020 stood at 398 tractors against 334 tractors exported in September 2019, registering a growth of 19.2%.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, October 01 2020. 09:14 IST
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