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Agri-Machinery ‘Escort’ reported 88% growth in tractor sales at 7,733 units

Escorts Tractor growth at 88%

Indian multinational conglomerate Escorts limited that operates in the sectors of Agri-Machinery and Farm equipment has reported on Friday an 88% growth in tractor gross sales at 7,733 units in December 2020.

The company had registered 4,114 units sales in December 2019.

Last month, domestic tractor gross sales stood at 7,230 units as compared to 3,806 units in December 2019, up 90%, Escorts posted in a BSE submission.

Also Read: India exported $782.93 million Farm Machinery to developed countries in 2019-20

Escorts said that this is the first month after lockdown, where the company will supply customers as per demand, some of whom waited long to get their favourite tractor brand. For the future, all macroeconomic conditions remain in favour of continued growth and no major supply-demand gaps are predicted. However, rising inflation continues to be a concern” the firm said.

In comparison to 308 products in December 2019, exports last month rose to 503 items.