Escorts’ Tractor sales dip 39% in December

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Faridabad : Escorts Agri Machinery (EAM) in December 2021 sold 4,695 tractors as against 7,733 tractors sold in December 2020, a drop of 39.3 percent year-on-year. Meanwhile, Export tractor sales in December 2021 was at 615 tractors against 503 tractors sold in December 2020, registering a growth of 22.3 percent. Domestic tractor sales in December 2021 was at 4,080 tractors as against 7,230 tractors in December 2020.

“Rural cash flows started to improve, but industry wholesales were impacted during the month of December 2021 due to high base last year. Going forward, all macroeconomic factors including healthy water reservoir level remains in favour of the tractor industry. We have taken price increase, but rising inflation continues to be a worry” the company said.

The company’s Construction Equipment Segment (ECE) in December 2021 sold 377 machines against 438 machines sold in December 2020, a drop of 13.9 percent year-on-year.

“Construction equipment industry is currently facing short term challenges due to delay in mobilisation of projects and low rental rates for the retail customers. Going forward, with big tail of projects under various stage of execution and the new projects awarded by the Government, we expect the demand to trigger, however industry might get impacted due to recent COVID – 19 restrictions. Rising inflation continues to be a worry” the company said.

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