Escorts Agri Machinery sold 6,114 tractors in February 2022, Down 45.6% yoy

02 Mar, 2022

Faridabad, March 1st, 2022: Escorts Agri Machinery (EAM)(Farmtrac tractor, Powertrac tractor and Digitrac tractor) in February 2022 sold 6,114 tractors as against 11,230 tractors sold in February 2021, a drop of 45.6 percent year-on-year.

Domestic tractor sales in February 2022 was at 5,686 tractors as against 10,690 tractors in February 2021. The tractor industry wholesales continued to remain subdued in February 2022, due to high base of last year, steep price increases due to higher inflation in commodity prices impacting retails and above normal inventory levels with the channel.

Going forward, we expect overall higher rabi sowing this year, good level of water reservoirs, increased Union budget allocations to rural and agri sector and initial indicators of normal monsoon next year will drive positive momentum for tractor industry in coming year.

Export tractor sales in February 2022 was at 428 tractors against 540 tractors sold in February 2021.

Sales figure are as follows:

FY- Financial Year from April to March                                                                               YTD – Year to date

About Escorts Limited: Escorts Ltd is one of India's leading engineering conglomerates with over seven decades of experience. It has helped accelerate India’s socio-economic development through its presence across the high growth sectors of Agri-machinery, construction & material handling equipment and railway equipment. The company has diversified business in to three different segments. Escorts Agri Machinery (EAM), Escorts Construction Equipment (ECE) & Railway Equipment Division (RED).

The company is committed to excellence in engineering, innovation in products, development of market-relevant technologies and the highest of cost efficiencies to create value for its customers and shareholders.

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