Two new tractors by Mahindra.
Mahindra and Mahindra is hoping to rekindle some enthusiasm among farmers by launching two new tractor variants.
At the two extreme ends of the market, the lower end tractor below 20 HP to replace bullocks and the other in the top-end in the above 50 HP category to meet demand coming from some segments of the market not as affected by the monsoon deficit or from the non-agri segment.
Relan said that the group’s Swaraj brand launched a 60HP tractor 960FE and a 15 HP engine Swaraj 717 tractor, which were the two gaps in the Swaraj portfolio. Around 25% of the large tractors are used for non-agri purposes, he pointed out.
While the sentiments are negative with some rains reported in parts of Maharashtra especially Marathwada in the last few days, the company is hopeful of things looking up post September with some of the rain hopefully sustaining for a few more days, Relan said “If September rains are okay then the industry numbers can look up.”
The largest fall has happened in the 30 HP to 50 HP segment, which is the main bread and butter segment for the industry, he added. While loans are available, some farmers are sceptical about investing while others are in debt especially in Marathwada where there have been two consecutive monsoon failure, he said. “The H2 sales had dropped a lot last year so the base effect will be low and some positive numbers can be expected in the second half,” he said.
The company has sold around 80,000 units of the Mahindra and Swaraj brand of tractors in the first five months while the entire industry sold around 2.04 lakh units compared to 2.44 lakh units same time last year. The company’s market share is currently at 42%.