Engineering conglomerate Escorts on Wednesday said it expects its tractor sales to increase by over 17 per cent in 2017-18.
According to the company, it has set an off-take of 75,000 units as the overall sales target for tractors during the fiscal under review from 63,786 sold during 2016-17.
“We have set a target to sell about 75,000 units (tractors) during this fiscal (2017-18). This includes exports and the new range of tractors that we will launch during the last quarter of this fiscal,” Shailendra Agrawal, Chief Operating Officer, Escorts, told IANS.
Agrawal spoke on the sidelines of an event held here to launch the company’s expanded global portfolio of tractors for the export and domestic market in 22 HP to 90 HP range under the flagship brands “Farmtrac and Powertrac”.
The new range includes the company’s flagship “New Escorts Tractor Series” (NETS) with higher horse power (70 to 90 HP), compact tractors in 22 to 30 HP range, crossover tractors for both paddy and haulage applications, tractors with cabin options for driving comfort, along with tier 4 emission norms compliant CRDi engines.
These are expected to cater to the demand generated from the US, Europe, Latin America, Africa and Asean countries besides the “new generation farmers” in India.
The engineering conglomerate also launched India’s first “Electric & Hydrostatic” concept tractor.
The company disclosed that it has invested more than Rs 20 crore in the development of the new range.