Escorts Agri Machinery posts 2.3 % rise in sales in October’20  

The company’s tractor sales surged 15.3% in October 2020 from 11,851 units sold in September 2020. 

Escorts’ Agri Machinery Segment (EAM) announced that the company has sold 13,664 tractors in October 2020 which is company’s highest ever October sales and registered a growth of 2.3% from 13,353 tractors sold in October 2019.

 Sequentially, the company’s tractor sales surged 15.3% in October 2020 from 11,851 units sold in September 2020.

Domestic tractor sales in October 2020 was at 13,180 tractors, registering a growth of 1.1% from 13,034 tractors sold in October 2019. Export tractor sales in October 2020 was at 484 tractors, 51.7% higher than 319 tractors exported in October 2019.

Escorts said in the release, despite operating at near-full capacity, the demand outpaced supply resulting in lower-than-normal inventories. Festival period of Navratri and Dussehra witnessed good footfalls, however sales even prior to that remained buoyant.

The company also mentioned that the demand is driven fundamentally because of higher crop production, good crop prices, sufficient availability of water and easy availability of finance. Escorts assured that it expects demand momentum to continue and supply chain issues smoothened out in the next few months but inflation in commodity prices remains a worry.