MUMBAI: Marking a near full recovery in its tractor sales in May, Escorts Ltd’s agri machinery segment sold 6,454 units in the month, down only 0.5% year-on-year.
According to a senior company management, this is likely due to the pent up demand for tractors as agricultural activities have gained momentum during the month and rabi crop output has been good, lifting sentiment in the rural pockets.
The Faridabad-based manufacturer’s exports, however, fell 59% yoy as it exported 140 units during the past month as against 339 units in May last year.
The tractor maker’s total sales for the month stood at 6,594 units, down 3.4% yoy. The company's cumulative domestic sales for April–May stood at 7,067 units, down 38% yoy over 11,474 units.