M&M eyes surge in tractor sales in FY11

Tractor major, Mahindra & Mahindra (M&M), is eyeing a significant increase in its marketshare this fiscal on the back of an enhanced demand for its products, a senior company executive said.

"Our current (tractor) marketshare of both Mahindra & Mahindra (tractor division) and Swaraj stands at 42 per cent. We plan to increase it (share) by selling more products through new marketing strategies," Mahindra & Mahindra's Senior Vice-President (Marketing & AppliTrac), Sanjeev Goyle, told PTI here.
   
He, however, declined to mention the marketshare the company was targeting to achieve this fiscal.
   
The company clocked a 31 per cent growth in FY10 and 16 per cent in the first quarter of this year, Goyle said adding, "we expect to beat the industry estimates by achieving a higher growth."
   
The domestic tractor industry reported a robust volume growth of around 28.3 per cent during 2009-10 on the back of strong rural liquidity, increasing farm mechanisation due to enhanced alternative employment opportunities and a higher use of tractors for non-agricultural uses.
   
"We are growing and will continue to grow in the domestic market. Our products have been farmer-friendly over the years. We will lead the domestic market in the coming days," Goyle said.

In its bid to penetrate deeper into the rural market, Mahindra and Mahindra has evolved a strong marketing strategy, Goyle said.

As a part of this strategy, the company plans to deliver farm tech prosperity (FTP) to 10 million farmers by 2020 by offering technological prosperity to the farmers and transforming its dealerships into Samriddhi centres.

"We are now focusing more on Samriddhi centres which will help us in increasing our sales," Goyle said.

A Samriddhi centre is a transformed tractor dealership which offers innovative farming technologies to the farming community in order to support them to increase productivity.

"Samriddhi centres aim at enhancing rural prosperity by educating farmers and enlightening them about total farming solutions and optimum utilisation of farm mechanisation," he said.