Escorts Kubota tractor sales drop 6%, construction equipment grows 3.3% in May

Exports dipped nearly 18% at 380 units Vs 463 units YoY.

The agri-machinery business division of Escorts Kubota Limited faced bit of a setback with the tractor sales slowing down to 8,612 units in May, marking a 6.1 percent decline from 9,167 units sold last year.

While domestic sales went down 5.4 percent to 8,232 units as against 8,704 units in May 2023, exports plunged nearly 18 percent to 380 units from 463 units.

The company attributed the slowdown to various factors affecting on-ground sentiment, including the elections, low reservoir water levels, searing heat, and reduced haulage activities in certain regions of the country. "However, there is optimism for a turnaround in demand and industry performance after the southwest monsoon, as forecasts predict near to above-normal rainfall across the nation," it said.

Escorts Kubota's construction equipment business division, however, recorded an uptick in May 2024, with sales of 439 machines, representing a 3.3 percent increase from the 425 machines sold last year.