Escorts Agri Machinery records 18Percentage decline in March tractor sales

7 Apr 2022 , 01:33 AM

Escorts Agri Machinery sold 10074 tractors in the month of March 2022 compared to 12337 tractors in March 2021 recording a decline of 183Percentage Domestic tractor sales declined 192Percentage to 9483 tractors while exports fell 26Percentage to 591 tractors during the month During next year the tractor demand is expected to improve led by higher Rabi output good level of water reservoirs increased Union budget allocations to rural and agri sector coupled with favourable crop prices and initial positive forecast of 2022 monsoon season as normal all supporting rural customer sentiments The rising inflation however continues to be an area of concern For Q4 FY 2022 the company reported sales of 21895 tractors compared to 32588 tractors sold in Q4 FY21 recording a decline of 328Percentage For FY 22 the company sales of 94228 tractors compared to 106741 tractors in FY21 recording a decline of 117Percentage