May 2023 Tractor Sales Report: Escorts Kubota's Robust Tractor Sales in May Drive Stock Surge

Escorts Kubota witnessed a modest rise of approximately one percent on the morning of June 1st, following the announcement of the company's record-breaking sales in May.

Despite a slowdown in the overall tractor industry, Escorts Kubota's Agri Machinery Business Division achieved remarkable success by selling 9,167 tractors during the month, marking their highest-ever sales for May.

This signifies a notable growth rate of 8.9 percent compared to the 8,421 units sold in the same period last year. The company further revealed that domestic tractor sales for May 2023 reached 8,704 units, reflecting a significant increase of 13.5 percent from May 2022's figure of 7,667 units. This positive outcome was confirmed through an official filing with the exchange.

The stock, trading on the BSE, experienced a rise of 0.7 percent, reaching Rs 2,188 at 10 am, following an earlier peak of Rs 2,214.

Escorts Kubota Domestic and Export Tractor Sales May 2023

Also Read:- Tractor Industry Braces for El Nino Impact Amidst Election Buzz

YoY Percent Change in Escorts Kubota Tractor Sales Mau 2023

The company stated that overall, macroeconomic factors and farmer sentiments are positive, leading to a favorable sales trend in various regions. Looking ahead, the company anticipates the current momentum to persist in the short term, driven by projected normal rainfall, satisfactory reservoir levels, improved liquidity, and accessible consumer credit.

Also Read:- Mahindra & Mahindra Sets Sights on Lightweight Tractors to Expand Market Share

The industry continues to face the persistent challenge of declining exports, as Escorts Kubota witnessed a drop in tractor exports. In May, they exported 463 tractors, compared to 754 tractors during the same period last year.

Escorts Kubota operates in three distinct divisions, namely agricultural machinery, construction equipment, and railway equipment, demonstrating their diversified business portfolio.

Also Read:- Mahindra Launched Convenient Door-Step Service for Rice Transplanters & Combine Track Harvesters in Odisha