by Shahkar Abidi 02 Mar 2022
Escorts’ Construction Equipment Segment (ECE) reported total sales of 386 machines in February 2022, down 14 percent as against 449 machines sold in the same month last year.
The company said the CE equipment industry is currently facing severe short-term challenges on account of steep price increase led by unprecedented inflationary pressures and emission norm changes coupled with low equipment rental rates. This trio of factors has impacted retails.
"However, given the Government thrust on infrastructure projects in the coming years and stabilisation of increased pricing in the market, we expect demand to start improving for construction equipment in the coming year" the company said.
Escorts has a presence across the sectors such as agri-machinery, construction & material handling equipment and railway equipment. Tractors, construction equipment and railways account for 82 percent , 11 percent and 7 percent respectively of the company’s businesses. Of the segments in which it operates, Escorts believes that the construction equipment industry will witness the fastest growth in coming quarters on account of expected pickup in economic activity and infrastructure activities including roads, mining and construction.
Sonalika tractors clocks 39,274 unit sales in Q1 FY23
by Autocar Pro News Desk , 07 Jul 2022
IIT Kharagpur develops BLDC motor, smart controller tech for e-ricksha...
by Autocar Pro News Desk , 06 Jul 2022
Tata’s Intra pick-up crosses 100,000 mark
by Autocar Pro News Desk , 05 Jul 2022