Escorts Kubota October 2024 Sales Report: 18,110 Units, 19.8% Growth

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Escorts Kubota Limited saw strong domestic tractor sales growth in October 2024 but faced a notable decline in export sales.

Key Highlights

Sold 18,110 tractors in October 2024, a 19.8% increase from 15,113 in October 2023.
Domestic sales rose by 22.6%, reaching 17,839 units.
Export sales dropped to 271 units, down 51.9% from last year.
Total FY 2024-25 sales increased by 1.2%, with 74,475 units sold.
Domestic sales for FY 2024-25 up by 2.7%, while exports fell by 29.1%.

Escorts Kubota Limited has announced that its Agri Machinery Business Division achieved a remarkable sales milestone in October 2024, selling 18,110 tractors. This figure represents a significant increase of 19.8% compared to the 15,113 units sold in October 2023.

The domestic market saw the biggest boost, with 17,839 tractors sold, marking a 22.6% rise from 14,550 units sold in the same month last year. Several factors contributed to this growth, including festive seasons, favorable economic conditions, higher Minimum Support Prices (MSP) for farmers, and improved rainfall due to a good monsoon. These conditions are expected to sustain strong sales in the upcoming months.

However, export sales faced a sharp decline, dropping to 271 units from 563 units last year, a decrease of 51.9%.

Also Read: Escorts Kubota September 2024 Sales Report: 12,380 Units, 2.5% Growth

Here are the key figures for tractor sales:

Particulars	October 2024	October 2023	Change %
Domestic	17,839	14,550	+22.6%
Export	271	563	-51.9%
Total	18,110	15,113	+19.8%

For the financial year 2024-25 (April to October), Escorts Kubota's overall sales increased slightly by 1.2%, with 74,475 tractors sold compared to 73,607 units in the same period last year. Domestic sales rose by 2.7%, reaching 72,016 units from 70,137. Conversely, export sales experienced a significant drop of 29.1%, with only 2,459 units sold compared to 3,470 units last year.

Particulars	FY 2024 (April-October)	FY 2023 (April-October)	% Change
Domestic	72,016	70,137	+2.7%
Exports	2,459	3,470	-29.1%
Total	74,475	73,607	+1.2%

While Escorts Kubota Limited has seen strong growth in domestic tractor sales, challenges in export markets may need to be addressed to maintain overall sales momentum.

Also Read: Mahindra Tractor October 2024 Sales Report: 65,453 Units, 30% Growth

CMV360 Says

Escorts Kubota Limited has achieved impressive growth in domestic tractor sales, driven by favorable market conditions and increased demand. However, the significant decline in export sales highlights challenges in that sector. Moving forward, addressing these export issues will be crucial for sustaining overall sales momentum and ensuring continued success in the agricultural machinery market.