Escorts Agri Machinery records 46Percentage drop in Feb tractor sales

9 Mar 2022 , 01:33 AM

Escorts Agri Machinery EAM in February 2022 sold 6114 tractors as against 11230 tractors sold in February 2021 a drop of 456 percent year-on-year Domestic tractor sales in February 2022 stood at 5686 tractors as against 10690 tractors in February 2021 The tractor industry wholesales continued to remain subdued in February 2022 due to high base of last year steep price increases due to higher inflation in commodity prices impacting retails and above normal inventory levels with the channel Going forward the company expects overall higher rabi sowing this year good level of water reservoirs increased Union budget allocations to rural and agri sector and initial indicators of normal monsoon next year will drive positive momentum for tractor industry in coming year Export tractor sales in February 2022 stood at 428 tractors against 540 tractors sold in February 2021