Escorts Sold 5,707 Tractors In January 2022

Mumbai, Feb 1: Escorts Agri Manufacturer on Tuesday said it sold 5,707 tractors as against 9,021 tractors in January 2021, a drop of 36.7 percent year-on-year. The domestic tractor sales in January 2022 was at 5,103 tractors as against 8,510 tractors in January 2021, the company said in a regulatory filing.

“Industry wholesales continues to be impacted in January 2022, due to unseasonal rainfall in certain parts of the country, high base of last year and inflationary impact on short term demand leading to higher level of channel inventory in certain geographies,” it said.

Export tractor sales in January 2022 was at 604 tractors against 511 tractors sold in January 2021, registering a growth of 18.2 percent. “Going forward with improved liquidity in the hands of farmers, overall high rabi sowing and good water level reservoirs, we expect the same will help boost demand recovery in coming months,” it said.