Escorts tractor sales fall 21.7% in August
Farm equipment manufacturer Escorts Agri Machinery on Wednesday reported 21.7% decline in tractor sales to 5,693 units in August 2021. It had sold 7,268 tractors in August 2020.
However, the August sales this year are not strictly comparable with last year same month sales because of the pent-up demand last year after the COVID-19 nation-wide lockdowns.
It see farmer sentiment strong and enquiry level building up, driven by favourable macroeconomic factors, reasonably good water level in reservoirs, good pace of Kharif sowing and continued support by the Government in Agri sector.
Escorts Agri Machinery sold 4,920 tractor units in the domestic market in August this year, down 27.1%, as against 6,750 tractor units in August 2020.
Tractor exports in August 2021 were at 773 as against 518 units sold in August 2020, registering a growth of 49.2%
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