Economy

December tractor sales zoomed in Punjab

Our Bureau. Chennai | Updated on January 26, 2021

The industry is bullish on the upcoming festival season

Tractor sales are usually subdued in November and December. But last year they soared, especially in Punjab and Haryana.

December witnessed a 43 per cent growth in tractor sales (61,249 units) with Punjab-based Sonalika Tractors’ sales zooming 72 per cent to 8,538 units, according to data from Tractor & Mechanisation Association. Escorts, whose tractors are popular in the North, saw sales soar 90 per cent to 7,230 units in December.

Industry analysts couldn’t explain the spike in December sales but tractor manufacturers put it down to a robust rural economy.

Tractor registrations in Punjab grew 36 per cent in December at 2,846 units followed by Haryana with 23 per cent rise at 4,405 units. Uttar Pradesh remained the largest State with 15,000 new tractors registered in December, an increase of 32 per cent over December 2019, according to an ICICI Securities report which quoted Vahan portal.

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Published on January 26, 2021
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