Escorts’ August Tractor sales dip 22%

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Biznextindia : Escorts Agri Machinery (EAM) has reported a 21.7 percent drop in sales at 5693 trsactors in August 2021 as against 7,268 tractors sold in August 2020. Domestic tractor sales dropped by 27.1 percent at 4,920 tractors as against 6,750 tractors in August 2020. Export tractor sales in August 2021 was at 773 tractors as against 518 tractors sold in August 2020, registering a growth of 49.2 percent.

“This year August sales is not strictly comparable with last year same month sales because of existence of pent-up demand last year, post COVID-19 national wide lockdowns. As we enter festive season months, we see farmer sentiment strong and enquiry level building up, driven by favourable macroeconomic factors, reasonably good water level of reservoirs, good pace of Kharif sowing and continued support by the Government in Agri sector. Some parts of the country have faced a deficit of rainfall in July and August, and it remains to be seen how monsoon behaves in September. Inflation continues at unprecedented levels” the company said.

Construction Equipment sales up  56.6 %

Faridabad: Escorts Ltd. Construction Equipment Segment (ECE) in August 2021 sold 307 machines, registering a growth of 56.6 percent as against 196 machines sold in August 2020.

“Infrastructure sector has been the biggest focus area for the Government of India with “Build India” thrust to revive the economy and with improved liquidity. We are hopeful that construction equipment demand may recover back to normal levels from October 2021 onward, if there is no further impact of COVID-19. Continuing inflationary trend in Commodity prices remains an area of concern” the company has commented.

 

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