Tractor and construction machinery major Escorts Kubota on Wednesday reported a growth of 27.4 percent at 7,245 units in its domestic sales in February. The had posted domestic sales of 5,686 units in the same month a year ago, as per a company release.
Faridabad-based company's total sales (domestic+exports) also rose by 27.8 percent at 7,811 units last month as compared to 6,114 units in February 2022.
According to Escorts Kubota retail demand across geographies remained strong during the month under review. "Overall positive sentiment, with record rabi sowing, better crop prices, good level of water reservoirs, increased Union budget allocations to rural and Agri sector, we expect demand momentum to remain strong across geographies," the company said.
Export tractor sales in February 2023 stood at 566 tractors registering a growth of 32.2 percent as against 428 tractors sold in February 2022.
In the construction equipment segment, the company sold 470 machines last month, up 21.8 percent as against 386 machines sold in February 2022.
"With the current pace of ongoing infrastructure projects and proposed investment outlay on various projects including smart cites, we expect growth momentum to continue in Construction Equipment space," the company said.