Mahindra Farm Equipment, a part of the Mahindra Group, has reported robust growth for its tractors in FY2018. The company sold a total of 301,394 units, up 22 percent YoY, in the domestic market.
Total tractor sales (domestic and exports) during FY2018 were 317,383 units (+21%) as against 262,992 units the year before.
In March 2018, the company sold a total of 28,277 units, an increase of 46 percent. While domestic sales were 26,958 units (+50%), exports accounted for 1,319 units (-3%)
Commenting on the numbers, Rajesh Jejurikar, president - Farm Equipment Sector, Mahindra & Mahindra said, “In FY2018, we have sold over 300,000 tractors in India, setting a new benchmark. We have seen a good momentum in Q4 and hope to see it continue next year too."
FY2018 saw a lot of action from the company on various fronts, be it new products, new technology or acquisitions. Among the highlights was the reveal of its first-ever driverless tractor, developed at the Mahindra Research Valley, the Group’s hub of innovation and technology in Chennai.
This makes the company, which already has a first-mover advantage in electric vehicles, a forerunner in autonomous driving technology in the country. According to M&M, the driverless tractor, which can be programmed to carry out specific tasks and can also be operated remotely, is aimed at redefining the mechanisation process for the farmer through substantially increased farming productivity.
In April 2017, Mahindra launched the new Jivo small tractor platform in the sub-25hp category, targeted at row crop and horticulture farming.
On March 7, 2018, the Chandigarh-based Swaraj Tractors, a division of the Mahindra Group, introduced a completely new product, as well as showcased new engine and transmission platforms for future high-power tractors from the company. The new Swaraj 963FE, an offering in the 60-75hp tractor segment, will sit atop the company's portfolio of products in the farm equipment space, which includes other tractor models between 15hp to 60hp power range, like the 834XM, 735FE, 744FE, 844FE and the 960FE.
In September 2017, M&M acquired Erkunt Traktor, giving it a strategic advantage in Turkey – known as the gateway to Europe – where it now owns two tractor manufacturers. M&M first forayed into Turkey in January 2017 when it bought a 75 percent stake in Hisarlar Makina Sanayi ve Ticaret Anonim Sirketi.
In November 2017, FES debuted its tractor and farm machinery at Agritechnica in Hanover. It showcased a new range of tractors – the 6000, 7000 and 9000 series – that come with its patented mCRD technology, along with machinery and equipment for soil tillage, along with sowing and harvesting products, technologies for automatic steering systems, new harvesters and a crawler tractor.