Total tractor gross sales this month had been 10,074 items, down 18.3 % from March 2021’s 12,337 items, in line with Escorts. In the development gear class, the corporate offered 386 items in March 2021, down from 525 the earlier yr, a 22.8 % lower.
Escorts Agri Machinery, a farm gear producer, reported a 19.2 % drop in home tractor gross sales to 9,483 items in March 2022. In March 2021, the corporate had offered 11,730 items.
Escorts acknowledged in a regulatory submitting that complete tractor gross sales final month had been 10,074 items, down 18.3 % from March 2021’s 12,337 items.
In the fiscal yr 2021-2022, the corporate offered 87,043 items within the home market, a 14.5 % lower from the earlier yr’s 1,01,848 items.
The tractor trade wholesales stay weak in March 2022, in line with Escorts Agri Machinery, as a result of excessive base of the earlier yr and subdued industrial demand. In FY22, complete tractor gross sales had been 94,228 items, down from 1,06,741 items in FY21.
“Higher Rabi output, good level of water reservoirs, increased Union Budget allocations to rural and agri sector coupled with favourable crop prices, and initial positive forecast of 2022 monsoon season as normal, all supporting rural customer sentiments, all supporting tractor demand next year,” the corporate added.
Rising inflation, alternatively, continues to be a supply of concern, in line with Escorts.
In March 2022, 591 tractors had been exported, in comparison with 607 tractors in March 2021.
In the development gear section, the corporate offered 386 machines towards 525 machines offered in March 2021, a drop of twenty-two.8% year-on-year.
Owing to the excessive base of final yr, extreme value rises as a result of emission norm revisions, elevated inflation in commodity costs, and muted leases, the development gear enterprise stays depressed in March 2022, affecting retail gross sales. stated the corporate.
“We expect demand for construction equipment to improve in the next year as a result of the government’s focus on infrastructure projects. Commodity price inflation continues to be a source of concern “According to the corporate.