Escorts Agri Machinery saw tractor sales grow a whopping 30.6%. They sold 11,230 units in February 2021. This is a huge volume compared to just 8,601 units in February last year.
According to Escorts, 10,690 units of domestic tractors were sold in January. In February last year there were 8,049 units. According to company officials, demand for tractors is expected to increase due to strong cash flows in rural areas and positive macroeconomic factors.
This news comes at the right time, as the company launched the first FORD 3000 tractor ex works on February 1, 1971.
Although the supply side is normal, the company is concerned about rising inflation. The company exported 540 units last month. In February of last year they had exported 552 units.
Escorts was founded in 1960 by HP Nanda. The head office is located in Faridabad, Haryana, India. In 1977 the company established its first independent research and development center called Escorts Scientific Research Center in Faridabad.
On September 6, 2017, the company launched the Electric & Hydrostatic Concept Tractor, which was the first of its kind in India. Escorts entered into joint ventures with two Japanese companies in 2019. The companies are Kubota Corporation and Tadano Limited.
More than a million tractors have been manufactured in Escorts factories. The company is dedicated to the manufacture of tractors of various types and technologies that make farmers’ lives easier.