Escorts posts 21 7 tractor sales down to 5,693 units in August
Escorts on Wednesday reported a 21.7% drop in total tractor sales to 5,693 units in August 2021. The company had sold a total of 7,268 units in the same month last year, Escorts said in a filing regulatory.
Sales of domestic tractors fell 27.1% to 4,920 units from 6,750 units in August 2020, he added. Escorts said sales for August of this year are not strictly comparable to the month of last year due to pent-up demand there last year, after nationwide COVID-locks. 19.
Exports, however, rose 49.2% to 773 units from 518 units last month, the company said.
On the outlook, Escorts said: “As we move into the holiday season months, we see strong farmer sentiment and the level of investigation intensify, driven by favorable macroeconomic factors, a level of Reasonably good water from the reservoirs, a good pace of Kharif planting and continued government support in the agribusiness. “
Parts of the country faced a shortfall in rainfall in July and August, and it remains to be seen how the monsoon will fare in September. Inflation continues at unprecedented levels, he added.