Bengaluru | Homegrown auto major Mahindra and Mahindra today announced the launch of its ‘Mahindra Yuvo’ range of tractors here with an aim to increase market share.
Mahindra has been leader in the tractor industry forover three decades now, we have a market share of about 41 per cent and we offer a full range of 15 to 60 HP tractors inIndia, Mahindra Farm Equipment Sector Vice President(Marketing-Farm Division) Ravindra Shahane told reportershere.
Speaking at the launch of the new product, he saidWe certainly expect improvement in our market share, we have41 per cent market share and we surely expect that it will improve…we are sure that we will gain out of thisparticular range of products.
‘Mahindra Yuvo’ is range of tractors in the 30-45 HP category which will be added to the company’s existing range of 15-57 HP tractors. Yuvo that comes in five models will be available inabout 400 outlets in 15 states and will be priced starting atRs 5 lakh (ex-showroom Bengaluru).
Mahindra and Mahindra has invested over Rs 300 crore towards the development of this new platform. On its Yuvo tractors, Shahane said the tractor industry in India though ranges from 15-60HP,thecore of this industry is in the 30-45HP range. He said of the entire sales about 70 per cent ofsales is in 30-45 HP range, so it is very very important andit touches every farmer.
Mahindra and Mahindra that exports tractors to US,Africa and other neighboring countries has plans to exportYuvo range in later stage and in the phased manner.
Stating that Indian tractor industry which is approximately Rs 25,000 crore has de-grown in the last two years because of bad monsoon, the VP said it de-grew by 20 per cent in financial year 2014-15 and last year by 9 to 10 per cent. We are keeping our fingers crossed expecting better monsoon and hopefully better tractor sale, he added.
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