Escorts Ltd Agri Machinery Segment (EAM) reported an 80 per cent growth in tractor sales in the month of August. The company's domestic sales rose by 79.4 per cent to 6,750 units from 3,763 units, while exports rose by 90.4 per cent to 518 units from 272 units. Month-on-month volumes up by 36.6 per cent
The company said this is its highest ever sales in the month of August. "The market sentiment continues to be highly positive with good monsoons, better Kharif sowing, crop prices holding up well, and a good supply of retail finance. We remain optimistic for the coming festive months", said the company.
"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 dealers and depots, which since the last few months was at very low levels," according to the company statement.