Escorts tractor sales rise 9% in September

Farm equipment manufacturer Escorts on Thursday reported a 9.2 per cent increase in tractor sales at 11,851 units in September 2020.

It had sold 10,855 tractors in September 2019, the company said in a BSE filing.

Domestic tractor sales in September were at 11,453 units, as compared to 10,521 units in September 2019 — a growth of 8.9 per cent.

Escorts said rural demand continues to remain positive led by lower base of last year, pent-up demand from Covid-19 related lockdowns, and fundamentally positive macroeconomic factors.

"Timely and widespread monsoon, record Rabi crop production, early Kharif sowing, and good availability of retail finance have helped drive positive farmer sentiment.

“While currently operating close to our peak capacity, we are trying to further ramp up production and supply to meet the excess demand. We remain optimistic for the coming festive season," the company said.

Exports during the month stood at 398 units as against 334 units exported in September 2019, registering a growth of 19.2 per cent, the company said.