Escorts Cuts Production Of Tractors (04-Feb-2012)
Escorts has reduced production andraised prices of tractors by Rs 7,000 in January to improve itsprofitability after a tough first quarter ending December 31.Collections from retail sales in the quarter fell at least 5-6% behindits expectations, as demand in the industry dropped to single-digitsfrom double-digits last year.
Thecompany aims compression exercise in raw material costs, which willhelp save cash. Also, from its seasonal business, as most of the saleshappens between end-February through to July.
Escortsoffer a comprehensive range of tractors with more than 45 variantsstarting from 25 to 80 HP. It also manufactures and markets a diverserange of equipments like cranes, loaders, vibratory rollers andforklifts.
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