Tuesday, October 04, 2022

Business

Tractor industry sales down to 59,586 units in July 2022

IANS | August 09, 2022 04:26 PM

CHENNAI: The Indian tractor industry sold 59, 586 units last month down from 80, 980 units sold during July 2021, said Tractor Junction, a digital marketplace for tractors and farm equipment.

According to Tractor Junction, five states - Uttar Pradesh, Rajasthan, Maharashtra, Karnataka and Gujarat- accounted for the majority of tractor sales last month.

The decline is largely due to a high base of the previous year and an uneven spread of the monsoon season.

The month of July witnessed floods, water logging, and heavy rains throwing normal life out of gear for days in various parts of the country.

The sales figures do not include the sales data from the states of Madhya Pradesh, Andhra Pradesh and Telangana, Tractor Junction said.

"The tractor sales in the month of July are down due to a higher base recorded last year. Going forward the IMD's forecast of average rain (96-104 per cent of long period average- LPA) in August and September and a good crop yield augurs well for tractor and other farm equipment volumes, " Rajat Gupta, Founder, Tractor Junction said.

Have something to say? Post your comment