Tractor and construction machinery major Escorts Kubota’s domestic sales in June remained flat at 9,270 units. The company had posted domestic sales of 9,265 units in the same month a year ago, as per a company release.
The Faridabad-based company’s total sales (domestic plus exports) dropped by 2 percent to 9,850 units last month as compared to 10,051 units in June 2022.
According to Escorts Kubota, overall sentiments were mixed, as markets with good rainfall and crop prices showed good momentum, and markets with a delayed monsoon saw slightly dampened demand.
“Going forward, with a further advancement of the monsoon across the country coupled with adequate reservoir levels, better liquidity, and consumer credit availability, we expect the demand momentum to improve in the coming months,” the company added.
Escorts Kubota’s tractor sales in June 2023 were at 580 as against 786 tractors sold in the same month last year, down 26.2 percent.
In the construction equipment segment, the company sold a total of 491 machines last month, up 53 percent as against 321 machines sold in June 2022.
“Government thrust and focus on faster execution of infrastructure projects continued in June 2023, despite the onset of the monsoon. Demand for construction machinery is still buoyant, and post monsoon, we expect the momentum to further accelerate,” the company said.