Biznextindia : Escorts Kubota Limited Agri Machinery Business Division in October 2023 sold 13,205 tractors as against 14,492 tractors sold in October 2022, a drop of 4.9 percent. Domestic tractor sales in October 2023 were at 12,642 tractors as against 13,843 tractors sold in October 2022. Export tractor sales in October 2023 were at 563 as against 649 tractors sold in October 2022.
The festive season this year is delayed and spread across two months; hence October sales were slightly muted compared to last year. November, however, looks positive with key festivals in the first half of the month. Going forward, all macroeconomic factors remain positive and we expect the demand momentum to continue for the remaining part of this fiscal.
Construction Equipment volume up 57% in October
Meanwhile, Escorts Kubota Limited Construction Equipment Business Division in October 2023 sold 603 machines, registering a growth of 57.0 percent as against 384 machines sold in October 2022. Growth momentum continues across all product segments, led by faster execution of ongoing projects, coupled with increase of bank credits in the sector and positive macroeconomics environment. Going forward we expect similar growth momentum to continue for the remaining part of the current fiscal.