Escorts Agri Machinery July 2021 sale grew by 23.3 pc
Mumbai/UNI: Escorts Ltd Agri Machinery Segment (EAM) reported a rise of 23.3 per cent in its July 2021 at 6,564 tractors as against 5,322 tractors sold in July 2020.
Domestic tractor sales in July 2021 was at 6,055 tractors as against 4,953 tractors in July 2020, registering a growth of 22.2 percent. The three-week slowdown in monsoon activity from mid-June to mid-July temporarily affected sowing of Kharif crops leading to some slowdown in sales in July. However, monsoon has now caught up to be normal, and sowing has also picked up pace in the last few days. This should augur well for the remaining months of the year. Also, most of the dealerships are now open and are able to fully serve customers. Commodity inflation continues to put pressure on the margins despite three price increases in the last nine months. a release said
Export tractor sales in July 2021 was at 509 tractors against 369 tractors sold in July 2020, registering a growth of 37.9 percent.