Escorts Kubota Limited saw an 11.2% drop in tractor sales for September 2023 compared to the same month last year, selling 10,114 units compared to 11,384 in September 2022. Tractor exports also declined by 11.9%, with 747 units exported in September 2023, down from 848 units in September 2022. For the April-September period of the current financial year, total sales reached 45,699 units, a 0.7% decrease from the same period last year. Year-to-date exports fell by 35.3%, with 2,907 units exported compared to 4,496 units in the previous year. On Tuesday, Escorts shares closed at Rs.3130, down by 1.73% on the NSE.
Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES) reported domestic tractor sales of 42,034 units in September 2023, down from 47,100 units in September 2022. Total tractor sales for September 2023, including domestic and exports, reached 43,210 units, down from 48,713 units for the same period last year. Exports for the month stood at 1,176 units. On Tuesday, Mahindra & Mahindra’s shares closed at Rs.135.90, down by 1.18% on the NSE.
VST Tillers & Tractors recorded a decline of 8.7% in domestic tractor sales, selling 535 units in September 2023 compared to 586 units in September 2022. However, in the power tillers segment, VST saw a 1.06% increase in monthly sales, selling 2,092 units in September 2023, compared to 2,070 units sold a year ago. On Tuesday, the company’s stock closed at Rs.3,670, up by 0.42% on the NSE.
On Tuesday, the BSE Auto Index closed at 36,184 points, down by 444.69 points, representing a 1.20% decrease compared to the previous trading day on September 29th.