Escorts Kubota sees 22.5 percent dip in sales

The company’s business in construction equipment grew by 22 percent.

Autocar Pro News Desk By Autocar Pro News Desk calendar 01 Jul 2022 Views icon4144 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

Escorts Kubota’s Agri Machinery Segment (EAM) in June 2022 sold 9,265 tractors- declining by 22.5 percent as against 11,956 tractors sold during the year-earlier month. In a statement, the company said,” Industry wholesale was impacted during the month of June 2022 due to the high base of last year. With the onset of monsoons, and likely record kharif crop production, rural liquidity and farmer sentiments are expected to gradually improve."

Escorts Kubota Limited (formerly Escorts Limited) is one of India's leading engineering conglomerates has diversified business across three different verticals, Agri Machinery, Construction Equipment & Railway Equipment Division (RED). 

In the construction equipment segment, the company in June 2022 sold 321 machines registering a growth of 22.5 percent against 262 machines sold in June 2021. Commenting on the development in the CE industry, it added, "In June 2022, growth trend continued in the Construction Equipment industry due to the low base of last year. With the Centre’s thrust on infrastructure, we expect growth momentum to continue in 2022-23".

 

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