Escorts Domestic Tractor Sales Hiked by 24.5% - Sold 7667 units in May

Escort domestic tractor sales during May remained at 8,421 units as against 6,423 units in May 2021, hiked 31.1%. As a result, the company sold 305 machines against 155 units sold in May 2021, a boost of 97% year-on-year in the construction equipment sector.

On Wednesday, the company released a report that 24.5% of domestic market brands sold 7,667 units in May 2022. The brand sold 6,158 units in May 2021.

Escorts Total (Export + Domestic) Sale Report during last month remained at 8,421 units as against 6,423 units in May 2021, up 31.1%, Escorts said in an administrative recording.

Escorts Agri Machinery said rustic opinion is superior, despite low harvest yields because of outrageous intensity conditions this harvest season, by better harvest value acknowledgement and figure of average precipitation and conceivable opportune planting this year.

"With late Government activities, Inflation might settle in the close to term and working influence might conceivably help in to some degree weakening the effect on edges in coming quarters," the company added.

Escorts tractor sales in May 2022 were at 754 units tractors against 265 tractors sold in May 2021, enlisting a hike of 184.5%.

In the expansion gear portion, the brand sold 305 unit tractors against 155 tractors sold in May 2021, a rise of 97% year-on-year.

In May 2022, the growth trend continued in the construction equipment industry due to the low base of last year despite challenges on retail demand due to input cost escalation, Escorts said.

"With Government push on framework we anticipate great recuperation in the later piece of the ongoing fiscal year 2022-23. However, the precarious ascent in input costs prompting higher claiming cost for clients remains a vital reason for concern," the brand included their explanation.

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