Escorts Kubota Limited – Agri Machinery Business Division has announced that it’ll be increasing the prices of its tractors effective 1st May 2024 onwards. The increase in prices would vary across models/variants and geographies.
Last March, the company had sold 8,587 tractors as against 10,305 tractors sold in March 2023, a drop of 16.7 percent. Domestic tractor sales in March 2024 were at 8,054 tractors as against 9,601 tractors sold in March 2023, a frop of 16 percent. Export tractor sales in March 2024 were at 533 as against 704 tractors sold in March 2023. In the entire 2023-24 fiscal the company’s tractor sales dropped by 7 percent to 95858 units.
“The shift in Chaitra Navratri festival to April this year and last season’s erratic monsoon patterns and resultant low water reservoir levels have affected agricultural sentiments in central and southern regions resulting in delayed harvesting of rabi crops. Looking ahead, as early sings point to an above-average monsoon in FY25, we anticipate that demand will stabilize post elections” the company had said.