Escorts Agri Machinery Segment records 23% growth in July tractor sales

Escorts Agri Machinery Segment (EAM) in July 2021 sold 6,564 tractors, the company's highest ever July sales and registering a growth of 23.3 percent against 5,322 tractors sold in July 2020.

Domestic tractor sales in July 2021 stood 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.

 

Export tractor sales in July 2021 stood at 509 tractors against 369 tractors sold in July 2020, registering a growth of 37.9 percent.

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