August 2023 Escorts Kubota Tractor Sales Report- Registered a Decline of 8.5% on Total Sales

Escorts Kubota is a prominent manufacturer renowned for its tractors and construction machinery. The company plays a pivotal role in providing essential equipment for agriculture and construction sectors. Recently, Escorts Kubota has reported a decline in its domestic sales during August.

The drop in sales can be attributed due to the inadequate monsoon rainfall experienced in certain regions of the country.

In August 2023, domestic tractor sales recorded a 2.1% decline, with 5,198 tractors sold, compared to the 5,308 units sold in August 2022. While some markets saw positive growth due to government subsidy programs, deficient monsoon rains in certain regions and the shifting of key festive seasons to the third quarter of the fiscal year had a dampening effect on tractor sales this month.

However, if these regions receive improved rainfall in September, tractor demand is expected to rebound during the upcoming festive months, considering other macroeconomic factors remain stable.

Also Read:- Telangana Agriculture Minister Seeks US Collaboration for Technological Advancements

Escorts Kubota Domestic and Exports August 2023 Sales Report

In August 2023, exports of tractors reached 395 units, marking a significant drop of 50.8% compared to the 803 tractors sold in August 2022. Despite this decline, Escorts Kubota maintains a positive outlook for the future. The company anticipates a resurgence in tractor demand in the upcoming months, driven by improved monsoon conditions.

Year-on-Year Percentage Change Report of Escorts Kubota

Also Read:- CSIR-CMERI Unveils Groundbreaking 'Made in India' CSIR PRIMA ET11 Electric Tractor for Small Farmers

Escorts Kubota’s Year-to-date (YTD) sales data indicates a slight decrease, with total brand sales at 37,745 units in FY24, down from 38,268 units in FY23. In the domestic market, Escorts Kubota recorded positive growth, selling 35,585 tractors in FY24, a 2.8% increase from the 34,620 units sold in FY23.

However, YTD exports for Escorts Kubota in FY24 reached 2,160 units, reflecting a notable -40.8% decline compared to the 3,648 units exported in FY23. Despite export challenges, the brand maintains its focus on domestic expansion and market presence.

Also Read:- Union Fisheries Minister Unveils Ambitious Plan to Elevate Mariculture Sector