Tractor and construction machinery major Escorts Kubota on Tuesday reported a growth of 9.7 percent at 5,161 units in its domestic sales in July. The company had posted domestic sales of 4,704 units in the same month a year ago, as per a company release.
Faridabad-based company’s total sales (domestic+ exports) also rose by 4 percent at 5,570 units last month as compared to 5,360 units in July 2022.
According to Escorts Kubota, the monsoon has progressed well during the last two months, barring certain eastern pockets.
“Some parts of the country have received heavy rainfall, resulting in flood-like situations and affecting on-ground activities. With all macroeconomic factors remaining positive for our Industry, we expect retail demand to pick up well in the upcoming festive months starting in September,” the company added.
Export tractor sales in July 2023 were at 409 as against 656 tractors sold in July 2022.
In the construction equipment segment, the company sold a total of 465 machines last month, up 54 percent as against 302 machines sold in July 2022.
“Demand for construction machinery continues to be buoyant, and as the monsoon is peaking in various parts of the country, we expect the momentum to accelerate further from September onwards, led by faster execution of projects,” the company said.