Escorts posts 21.7% decline in tractor gross sales at 5,693 items in August

Farm equipment and development tools main Escorts on Wednesday reported 21.7 per cent decline in complete tractor gross sales at 5,693 items in August 2021.
The firm had offered a complete of seven,268 items in the identical month final 12 months, Escorts stated in a regulatory submitting.
Domestic tractor gross sales had been down 27.1 per cent at 4,920 items as in opposition to 6,750 items in August 2020, it added.
Escorts stated this 12 months August gross sales are usually not strictly comparable with these of the year-ago month on account of existence of pent-up demand final 12 months, put up COVID-19 nationwide lockdowns.

Exports had been, nonetheless, up 49.2 per cent at 773 items as in comparison with 518 items within the year-ago month, the corporate stated.
On the outlook, Escorts stated, “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 elements of the nation have confronted a deficit of rainfall in July and August, and it stays to be seen how the monsoon behaves in September. Inflation continues at unprecedented ranges, it added.