Escorts Kubota Limited reported an 11.2 per cent decline in its tractor sales for September 2023 compared with the same period last year. The company sold 10,114 units of tractors in September 2023, whereas the number stood at 11,384 in September 2022. Exports of tractors also took a hit, declining 11.9 per cent as the export volume dropped from 848 units in September 2022 to 747 units in September 2023.
For the ongoing financial year, the April-September sales so far totalled 45,699 units, which was 0.7 per cent below the sales during the same period last year. Year-to-date exports, on the other hand, declined 35.3 per cent, as the company exported 2,907 units of tractors compared with 4,496 tractors exported during the same period last year.
The construction equipment division of the company registered an impressive growth of 51.8 per cent, as Escorts Kubota sold 592 units in September 2023, compared with 390 units in September 2022. Year-to-date sales for construction equipment also registered a 56.7 per cent rise, as sales increased from 1,883 units during April-September 2022 to 2,950 units for April-September 2023.
Escorts Kubota, formerly known as Escorts Limited, is one of India's largest tractor manufacturers. The company has a diversified portfolio, includes sectors such as agricultural mechanisation, modernisation, and railway technology. The company holds a significant share in the country's tractor and agricultural machinery market.