Escorts Kubota Reports 11% Drop in Tractor Sales for September 2023 Amidst Various Challenges

Escorts Kubota Limited, in a recent announcement from their Agri Machinery Business Division, has unveiled comprehensive sales data for September 2023. The report provides insights into tractor sales within both domestic and export markets.

Escorts Kubota Tractor Sales Decline 11% in September 2023

In September 2023, the company recorded a notable 11% decline in overall tractor sales, with 10,861 tractors sold compared to the 12,232 units in September 2022.

Domestic tractor sales in September 2023 were at 10,114 units, a decline of 11% compared to 11,384 units sold in September 2022.  Exports also experienced a decline, with 747 tractors sold in September 2023 compared to the 848 units from the corresponding month in the previous year. This represents an 11.9% decrease in the export market.

September 2023 Escorts Kubota Tractor Sales Report

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Escorts Kubota Tractor Sales Decline 3.8% Year-to-Date

The company also released a year-to-date sales report, where it reported a decline of 3.8% in September 2023 compared to the same period last year. The company sold 48,606 tractors in 2023, against 50,500 units sold in 2022.

Domestic tractor sales in 2023 were at 45,699 units, a decline of 0.7% compared to 46,004 units sold in 2022. Export tractor sales also declined by 35.3% to 2,907 units in 2023, from 4,496 units sold in the same period last year.

Escort Kubota Year-to-Date Tractor Sales

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Escorts Kubota Expects Tractor Sales to Pick Up in Q3 on Improved Rainfall and Farmer Sentiment

In a statement, the company said that it expects tractor sales to pick up in the third quarter of the current fiscal year, despite a decline in September due to the delayed festive season. The company is optimistic about the upcoming months due to improved rainfall, the likelihood of a good kharif harvest, positive overall macroeconomic factors, and farmer sentiment.

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