Escorts Posts 21.7% Decline in Tractor Sales at 5,693 Units in Aug'21

Escorts Agri Machinery (EAM) in August 2021 sold 5,693 tractors as against 7,268 tractors sold in August 2020. Domestic tractor sales in August 2021 were at 4,920 tractors as against 6,750 tractors in August 2020. This year August sales is not strictly comparable with last year same month sales because of existence of pent-up demand last year, post COVID-19 national wide lockdowns.

As we enter festive season months, we see farmer sentiment strong and enquiry level building up, driven by favourable macroeconomic factors, reasonably good water level of reservoirs, good pace of Kharif sowing and continued support by the Government in Agri sector. Some parts of the country have faced a deficit of rainfall in July and August, and it remains to be seen how monsoon behaves in September. Inflation continues at unprecedented levels, said the company

Export tractor sales in August 2021 was at 773 tractors as against 518 tractors sold in August 2020, registering a growth of 49.2 percent.

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