Escorts, one of the leading tractor manufacturers, on June 1 announced that its Escorts Agri Machinery Segment (EAM) sold 6,423 in May 2021 as against 6,594 tractors sold in May 2020. Domestic tractor sales in May 2021 were at 6,158 tractors as against 6,454 tractors in May 2020.

"Our country is going through some tough times and slowdown in demand is seen due to impact of COVID-19 in the rural parts impairing movement of customers and smooth operations of our dealerships. The ground situation has somewhat eased in the last few days of the month, and we expect return to normalcy soon. In the medium term, we see rural sentiment to be strong, on account of all positive macroeconomic factors viz. prediction of a good monsoon, high crop  production and better support by Government on crop prices. Inflation continues unabated and remains a worry," the company said.

Export tractor sales in May 2021 was at 265 tractors against 140 tractors sold in May 2020, registering a growth of 89.3%, it said.

"The farmers of our country have shown utmost courage and have worked hard during the pandemic ensuring all of us have food on our plates. It is our moral duty to reciprocate to the farming community with actions supporting their well-being.

Under a program titled 'Escorts Covid Kavach' we have announced several Covid-19 relief measures for our customers, including insurance coverage for hospitalization and home treatment expenses. We hope our collective efforts will help our country overcome this crisis soon," the auto major added.

Shares of the company declined Rs 9.55, or 0.82%, to settle  at  Rs 1,162.05.  The total volume of shares traded  was  86,117 at  the BSE (Tuesday).