Biznextindia: Escorts Limited on Monday said that India’s domestic tractor demand is likely to be strong in the coming months on back of positive macroeconomic factors and strong rural cash flows. However, the rising inflation has continued to be a concern.
“The tractor demand is expected to continue to be strong on back of positive macroeconomic factors and strong rural cash flows. The supply side situation is normal, but rising inflation continues to be a worry” the company said.
Escorts’ Agri Machinery Segment (EAM) in February registered a record sales growth of 30.6 per cent at 11,230 tractors against 8,601 tractors sold in February 2020.
The company’s domestic tractor sales grew by 32.8 per cent to 10,690 units against 8,049 tractors in February 2020. However, the company’s export sales has dipped marginally by 2.2 per cent to 540 units as against 552 units sold in February 2020.
The cumulative sales in the 11 months ending February 2021 has registered a growth of 17.2 per cent at 94,404 tractors. The company’s domestic tractor sales registered a growth of 17 per cent to 94,404 units.