Sales of tractors, escorts out by car, up 21% in June, MG Motors also benefited

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While the sales of cars in the automobile sector did not perform much in the month of June, good sales in the agricultural vehicle segment give good signs.

Agricultural equipment and engineering sector company Escorts Ltd’s tractor sales grew 21.1 percent to 10,851 units in June.
Escorts told the stock market that it had sold 8,960 units in the same month last year.

The company said that domestic tractor sales stood at 10,623 units during the month under review, compared to 8,648 units in the year-ago period.

However, exports declined by 26.9 per cent to 228 units in June.
‘Advantage of normal monsoon forecast’
Experts believe that during the lockdown, the agricultural sector got timely exemption. Due to which the demand for tractors increased. At the same time, due to the forecast of a normal monsoon, there is a positive view of farmers for good farming. Farmers also expect the rabi crop to be good. Also, getting a good price for crops has also proved favorable for the farm. Due to all these reasons, demand for tractors was good.
MG Motors also benefit
In another release, MG Motors stated that it had sold 2,012 units in June. The company’s sales director Rakesh Sidana said that although sales were better in June than in May this year, supply chain and logistics remain bottlenecked due to several reasons.

He told that the company is trying to overcome these obstacles and the company will launch Hector Plus (Hector Plus) this month.
Talking about sales in the automobile sector, Maruti Suzuki India Limited (MSIL), the country’s largest carmaker, Maruti Suzuki India Limited (MSIL) on Wednesday said its total sales in June fell by 54 per cent to 57,428 units. Despite this, Maruti Suzuki India was ahead of Hyundai Motors (Hyundai Motors), Tata Motors (Tata Motors), Mahindra and Mahindra (Mahindra & Mahindra) and Kia Motors (Kia Motors) as usual.

abstract

  • Escorts Limited Tractor sales increase in the month of June
  • Car sales fell in June but demand for agricultural vehicles increased

Detailed

While the sales of cars in the automobile sector did not perform much in the month of June, good sales in the agricultural vehicle segment give good signs.

Agricultural equipment and engineering sector company Escorts Ltd’s tractor sales grew 21.1 percent to 10,851 units in June.

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