Festive Tractor Sales Surge: A Promising Outlook

Tractor sales during the festive months from September to November are projected to grow by 8-10% this year, driven by positive monsoon impacts. The sector is optimistic about regaining momentum in the fiscal year's second half, with an expected double-digit growth following a subdued first half.

Tractor sales are anticipated to surge by 8-10% during the festive months, September to November, fueled by a favorable monsoon that has lifted market spirits, according to Bharat Madan, whole-time director and CFO at Escorts Kubota Ltd.

Despite a lukewarm first half of the year, the tractor industry is set to accelerate in the second half, with projections of double-digit growth, culminating in an overall mid-single-digit growth for the fiscal year, as reported to PTI.

Madan outlined that the festive season typically contributes 40-45% of industry sales, adding that this year's total is expected to reach around 325,000 tractors. He attributed the market resurgence to effective stocking by channel partners and robust retail growth in October, following a good monsoon.

(With inputs from agencies.)