Escorts Agri Machinery reported a whopping 30.6% rise in tractor sales. They sold 11,230 units in the month of February 2021. This is a huge volume as compared with just 8,601 units in February last year.
According to Escorts, their domestic tractor sales in January was 10,690 units. It was 8,049 units in February last year. As per company officials, demand of tractors is anticipated to be on the rise due to strong cash flows in the rural areas and positive macroeconomic factors.
This news comes at the right time because it was on February 1, 1971, that the company rolled out the first tractor FORD 3000 from their factory.
Although the supply-side condition is normal, the company worries about the growing inflation. The company exported 540 units last month. Last year in February, they had exported 552 units.
About Escorts
Escorts was founded in 1960 by H.P. Nanda. Its headquarters are in Faridabad, Haryana, India. In 1977, the company established their first independent Research and Development Center called Escorts Scientific Research Center in Faridabad.
On September 6, 2017, the company launched 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 the factories of Escorts. The company is dedicated to manufacturing tractors of various kinds and technologies, making farmers’ lives easier.
