March Auto Sales: Escorts Kubota tractor sales rise 2.3%

Escorts Kubota on Saturday, April 1, 2023, reported its sales volume of tractors and construction equipment for March 2023. The company said it sold 10,305 tractors in the month, registering a growth of 2.3 percent as against 10,074 tractors sold in March 2022.

The agri-machinery manufacturing company’s sales grew by 13.1 percent in Q4FY23 at 24,765 units against 21,895 units sold in Q4FY22. Its annual sales also grew by 9.6 percent in FY23 at 1,03,290 units against 94,228 units sold in FY22.

The company sold 9,601 tractors in the domestic market in March 2023, which is a 1.2 percent growth against 9,483 tractors sold in March 2022.

Escorts Kubota says, despite the festive season in March, retail sales were impacted due to unseasonal rainfall and crop damage in certain regions. However, with continued support from the government, better crop prices, improved finance availability and good water reservoir levels, we expect similar demand momentum to continue across geographies in the coming quarter.

The Faridabad-based company said, its export tractor sales in March 2023 were at 704 tractors registering a growth of 19.1 percent as against 591 tractors sold in March 2022.