Escorts Kubota, one of the leading agriculture machinery manufacturers in India, has announced its sales performance for February 2024.
The company reported sales of 6,481 tractors (domestic & export), down 17 percent, as against 7,811 tractors sold in February 2023.
The domestic tractor sales came in 6,041 tractors, down 16.6 percent, as against 7,245 tractors sold for the same period last month.
The company attributes the dip in tractor sales due to the continuing impact of uneven monsoon coupled with insufficient rainfall and diminished reservoir levels which impacted the Kharif output.
The outlook however remains optimistic on the back of anticipated improvements in the Rabi harvest and early signs of a normal monsoon next year, which are projected to enhance overall sentiments and drive an uptick in tractor sales in the next fiscal year. Export tractor sales in February 2024 were at 440 as against 566 tractors sold in February 2023.
