Escorts Kubota hikes tractor prices, Effective from June According to Escorts Kubota's official statement, the increase in prices of tractors would vary depending on criteria such as tractor models, variants, and regional considerations. According to Escorts Kubota's official statement, the increase in prices of tractors would vary depending on criteria such as tractor models, variants, and regional considerations. Escorts Kubota's Agri Machinery Business Division has announced a price hike for its tractors second time in six months. It will be effective from June 2023. The company's decision is intended to mitigate the impact of rising prices. According to Escorts Kubota's official statement, the increase in prices of tractors would vary depending on criteria such as tractor models, variants, and regional considerations. According to recent statistics, Escorts' domestic tractor market share fell during the fourth quarter. There was a 47 basis point reduction year on year, resulting in a market share of 10.90%. This drop can be attributable to the negative effects of weather delays. Also Read: Escorts Kubota Limited sold 7,565 tractors in April 2023, a 9.1% Declined on YOY According to sources, Escorts' market share in the domestic tractor business fell by 47 basis points year on year to 10.9 per cent in the fourth quarter. The firm attributed this decrease in part to the adverse consequences of unusually heavy rains. Escorts expect the first quarter to be essentially stable. In April, the company had an overall sales reduction of 9.1 per cent, with exports decreasing by more than 51 per cent compared to the previous year. Escorts Kubota delivered a performance that was beyond expectations during the March quarter. However, its operating profit fell by 6.2 per cent to Rs 236 crore, while its margin fell by 270 basis points year on year. In a recent brokerage note, Kotak Institutional Equities stated that in order to reclaim lost market share, the company will need to implement an aggressive pricing strategy, which may harm margin recovery.
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