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Tractor volume growth expected to be 10-12% this fiscal: Icra

Press Trust of India  |  New Delhi 

sales are expected to grow in the range of 10-12 per cent this fiscal on the back of factors like enhanced cash flows and healthy haulage demand, according to rating agency

The domestic industry has grown by 22 per cent in April-August of the current fiscal as compared to the same period of previous financial year.

The volume growth has been relatively broad based, with healthy offtake recorded across a majority of states even as the monsoon distribution remained uneven, the agency said.

"expects the volume growth for the fiscal to be at 10-12 per cent as the base effect catches up," its Vice President and Sector Head, said.

The demand drivers for the industry continue to remain intact, which has aided robust volume growth in the fiscal till date, it added.

"A combination of factors such as enhanced agri cash flows, healthy haulage demand and adequate financing availability remain the key demand drivers; government support programmes have also lent support to the farm sentiments and aided the industry volumes," said.

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

First Published: Tue, October 09 2018. 21:15 IST