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The company expects volume in the domestic tractor industry to fall by 6-7% in FY24. Export markets also remain dull thanks to recessionary concerns in Europe, and the company’s launch in the US has been delayed to FY26.
The rate hike by the RBI is hardly going to have any impact on the tractor demand, but it can falter due to the rising inflation, says Bharat Madan, CFO of Escorts Kubota Ltd
This week in Auto: Here’s why Tesla's India entry should mean more than just flashy electric cars Here is a wrap on what else made headlines in the auto space during the week January 16, 2021 / 01:57 PM IST Finally, the world’s most valuable automotive company Tesla, Inc has an India address. The American electric car maker registered its India subsidiary earlier this week, bringing cheer to not just auto enthusiasts but also to electric vehicle (EV) manufacturers. More on this later. Here is a wrap on what else made headlines in the auto space during the week: Toyota withdraws lockou...