The Faridabad-based company, Escorts Ltd. on Tuesday, reported a total wholesales of 7,268 units in August, which is up by 80 per cent on a year-on-year basis, which was 4,035 units in the previous year of august month.
The company said it had recorded the highest ever sales in August. Domestic tractor sales stood at 6,750 units for the last month, a growth of 79.4 per cent as compared to 3,763 units from the previous year period. The domestic volumes in the month of August have seen a sequential increase of 36 per cent over the July month, which was 4,953 units. Export grew to 518 units in August, which was 272 units in the same month a year ago.
The company in a BSE filing said, “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 about the coming festive months”.
Despite Covid-19 pandemic, the company has seen a 3.5 per cent YoY growth in its cumulative domestic wholesales in the April-August period. During the month of July, the production of tractor manufacturing belts of Aurangabad and Bengaluru was hit but, now it is operating on its peak and has significantly improved the supply chain, said the company.