Tractor escorts: escorts record a 25.6% drop in tractor sales in September
The company had sold a total of 11,851 units in the same month last year, Escorts said in a regulatory filing.
Sales of domestic tractors last month amounted to 7,975 units compared to 11,453 units in September 2020, down 30.4%, he added.
Exports, however, have doubled to 841 units from 398 units last month, the company said.
“With a record monsoon in September, this year’s rainfall deficit has been largely recovered, which bodes well for the industry in the coming months. However, above-normal rainfall in September delayed the harvest in parts of the country causing a four week delay in the start of the holiday season application, ”said Escorts Ltd.
All other macroeconomic factors remain favorable. Inflation in the prices of various commodities remains a concern in the short term, he added.
In the construction equipment segment, the company said it sold 400 machines compared to 369 machines in September 2020, registering growth of 8.4%.
Inquiries on construction equipment saw a significant increase on a month-to-month basis, but persistent rains during the month caused the majority of customers to postpone purchasing decisions, the company said. .
“However, we anticipate strong demand for equipment in the second half of FY22 from October 2021, in line with the trend seen in the previous fiscal year. Demand should also be boosted by the surge government on infrastructure projects. However, the risk of commodity price inflation remains a concern, “the file added.