FARIDABAD, 2 June 2021: Escorts Ltd's Agri Machinery Segment (EAM) in May 2021 sold 6423, against 6594 tractors sold in May 2020.
Domestic tractor sales in May 2021 was down to 6,158 tractors, as compared to 6,454 tractors sold during the same month last year.
Our country is going through some tough times and slowdown in demand is seen due to impact of COVID-19 in the rural parts impairing movement of customers and smooth operations of our dealerships. The ground situation has somewhat eased in the last few days of the month, and we expect return to normalcy soon, the company said in a statement.
In the medium term, we see rural sentiment to be strong, on account of all positive macroeconomic factors viz. prediction of a good monsoon, high crop production and better support by Government on crop prices. Inflation continues unabated and remains a worry, the statement added.
Export tractor sales in May 2021 was at 265 tractors against 140 tractors sold in May 2020, registering a growth of 89.3 percent.
The farmers of our country have shown utmost courage and have worked hard during the pandemic ensuring all of us have food on our plates. It is our moral duty to reciprocate to the farming community with actions supporting their well-being.
AgriTimes has reported on 31 May that the company has announced several Covid-19 relief measures for our customers, including insurance coverage for hospitalization and home treatment expenses.
