Escorts Kubota reports tractor and construction equipment sales for September 2023

Escorts Kubota Limited's Agri Machinery Business Division sold 10,861 tractors in September 2023, compared to 12,232 tractors in the same month last year. Domestic tractor sales also declined, with 10,114 units sold, down from 11,384 in September 2022. This drop is attributed to the postponement of the main festive season to Q3.

On the positive side, improved rainfall in September and expected good kharif harvest are expected to drive growth in the festive months of October and November. Additionally, positive macroeconomic factors and farmers' sentiments are likely to contribute to growth for the remainder of the fiscal year.

Export tractor sales amounted to 747 units, down from 848 in September 2022.

In the Construction Equipment Business Division, Escorts Kubota sold 592 machines in September 2023, marking a robust 51.8% growth compared to 390 machines sold in the same month the previous year. This growth reflects continued momentum in the construction equipment industry, and the company anticipates further acceleration during the festive season.