Escorts Tractors Volumes grew by 21.1 percent in June, MoM Volume up by 64.6%

Escorts Agri Machinery Volumes grew by 21.1 percent in June 2020 MoM Volume up by 64.6%

Faridabad, July 1st, 2020: Escorts Ltd Agri Machinery Segment (EAM) in June 2020 sold 10,851 tractors registering a growth of 21.1 percent against 8,960 tractors sold in June 2019.

Domestic tractor sales in June 2020 at 10,623 tractors registering a growth of 22.8 percent against 8,648 tractors in June 2019.

Escorts tractor sales in June 2020 at 228 tractors against 312 tractors sold in June 2019.

 

Sales figure are as follows:

Particulars                  June                                                       YTD (3M)

	FY21	FY20	%Change	FY21	FY20	%Change
Domestic	10623	8648	22.8%	17690	20122	-12.1%
Exports	228	312	-26.9%	460	929	-50.5%
Total	10851	8960	-21.1%	18150	21051	-13.8%

 

Escorts saw unprecedented demand during this month. The industry is predicted to grow significantly backed by pent-up the demand of the lockdown period, better farmer sentiment thanks to good monsoon prediction reflected in better than normal Kharif sowing, better rural cash flows due to record crop output and crop prices, and fairly good availability of retail finance. The industry growth is widespread with positive growth in most markets barring one or two.  inventory levels, both with the corporate and with a channel are lowest ever. After necessary permissions, Escort was ready to run their factories in multiple shifts to realize production at about 90% of the capacity. The supply chain situation, though better than before, continues to stay volatile.

 

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