Escorts tractor sales jump 49% to 9,021 units in January 2021

Farm equipment manufacturer Escorts Agri Machinery on Monday reported a 48.8 per cent jump in tractor sales at 9,021 units in January 2021.

The company had sold 6,063 units inJanuary2020.

Domestic tractor sales during last month stood at8,510 units as against 5,845 units inJanuary2020, up 45.6 per cent, Escorts said in a BSE filing.

Escorts said the tractor market continues to be strong on back of positive macroeconomic factors and strong rural cash flows.

"The supply side situation is normalising and is no longer expected to be a bottleneck to meet demand. However, rising inflation continues to be a worry," the company said.

Exports last month grew to 511 units compared with 218 units inJanuary2020.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel