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Escorts increases Tractor Prices

Escorts increases Tractor Prices

Chandigarh, September 1, 2012 : Escorts Limited, India’s leading tractor manufacturer, has announced an increase in prices of its tractors. The increase in prices is due to rising input cost especially that of the raw materials likes steel. The company has so far been absorbing the impact of increased factor costs without burdening its customers. The current hike in prices is in the range of 2-3% and will be applicable from 1st September across the range of Farmtrac, Powertrac and Escorts brand of tractors.

Mr. S.Sridhar, Chief Executive Officer, Escorts Agri Machinery, said, “Over the past few months, the industry has experienced a significant increase in input costs, especially in the cost of steel and rubber. A maximum part of these increased costs has been absorbed by the company and a small portion has been passed on to the customer. We expect the industry to follow the same trend to cope up with cost pressures.”

The ESCORTS GROUP is among India's leading engineering conglomerates operating in high growth sectors of Agri Machinery, Material Handling & Construction Equipment, Railway Equipment and Auto Components. The Group has earned the trust of over 5 Million customers by way of product and process innovations over six decades of its existence. Escorts endeavours to transform lives in rural and urban India by leading the revolution in agriculture mechanization, modernization of automotive & railway technology and transformation of Indian construction.

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