Escorts Agri Machinery reports 80 pc jump in August sales

New Delhi, September 1 dmanewsdesk:  Farm equipment manufacturer Escorts Agri Machinery on Tuesday reported 80.1 per cent jump in tractor sales at 7,268 units in August 2020.

It had sold 4,035 tractor units in August 2019.

Escorts Agri Machinery said the market sentiment continues to be highly positive with good monsoons, better Kharif sowing, crop prices holding up well, and good supply of retail finance.

“We remain optimistic for the coming festive months. The supply side situation improved significantly as compared to last month. We are currently operating close to peak capacity now.

In August 2020 we could build some inventory both at dealer and depots, which since the last few months was at very low levels,” the company added.

Escorts Agri Machinery sold 6,750 tractor units in the domestic market in August this year, up 79.4 per cent, as against 3,763 tractor units in August 2019.

Exports for the month also went up by 90.4 per cent to 518 units as against 272 units in August 2019.

Source: PTI