New Delhi: Farm equipment manufacturer Escorts on Tuesday reported its highest ever monthly sales in November with a stunning 33% year-on-year increase in overall sales at 10,165 units.
It had sold 7,642 tractors in November 2019, the company said in a BSE filing.
Domestic tractor sales in November were at 9,662 units, as compared to 7,379 units in November 2019 – a growth of about 31%.
Escorts said the dealer and depot stocks continue to be low.
“Stock correction in the coming months would continue to push the industry upwards, supported by healthy water reservoir levels and a good harvest. The supply chain still is volatile but should improve going forward.” the company said.
Additionally, the tractor manufacturer has also taken a price increase last month to pass on the inflation in the commodity prices.
Export tractor sales in November 2020 was at 503 tractors against 263 tractors exported in November 2019, registering a growth of 91.3% the company said.