Tractor sales in India rose 6.8% on year to record 123,525 units in October, data released by the Tractor and Mechanization Association showed. The record high volume during the month was on account of strong demand during the festival season.
On a month-on-month basis, tractor sales increased 8.7% in October. In September, tractor sales had risen a sharp 23% on year to 113,686 units.
In October, export of tractors plunged 27.1% on year to 8,888 units--a 17-month low--largely due to a slowdown in global demand.
Total sales, including exports, were up 3.6% on year in October at 132,413 units. That said, the production of tractors declined 3.9% on year to 86,856 units during the month.
Sales of tractors, along with two-wheelers, are an important indicator of rural demand.
