Agricultural machinery manufacturer Escorts Agri Machinery reported an increase in tractor sales of 48.8 percent to 9,021 units in January 2021 on Monday. Escorts had sold 6,063 units in January 2020.
Domestic tractor sales totaled 8,510 units last month, up from 5,845 units in January 2020, an increase of 45.6 percent, Escorts said in a BSE filing.
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Escorts said the tractor market continues to be strong due to positive macroeconomic factors and strong rural cash flows.
“The situation on the supply side is normalizing and is unlikely to be a bottleneck to meet demand. However, rising inflation remains a concern,” the company said.
Exports rose to 511 units last month from 218 units in January 2020.
The story was taken from a news agency