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LATEST NEWS UPDATES | Tractor sales on upswing

Tractor sales on upswing

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published Published on Mar 2, 2020   modified Modified on Mar 3, 2020

-The Hindu

Two-wheelers continue to slide as virus adds to woes

In a sign of reviving rural demand, tractor players M&M and Escorts posted a double-digit growth in sales in February 2020.

M&M’s farm equipment sector (FES) said its domestic sales in February 2020 stood at 21,877 units, up 21% from the year-ago month.

Exports, though, dropped 22% to 683 units, taking total tractor sales during the month to 22,561 units. This is a growth of 19% from February 2019.

Rajesh Jejurikar, president, FES, M&M said, “the tractor demand trend is expected to strengthen on the back of a robust rabi output and the prevailing crop prices. Going forward, the increase in rural and agri- spending on core schemes by the government should augur well for the industry.”

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The Hindu, 2 March, 2020, https://www.thehindu.com/business/Industry/tractor-sales-on-upswing/article30965637.ece?homepage=true


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