TAFE sells 7633 tractors in March

Chennai-based tractor manufacturer, Tractor and Farm Equipment Ltd (TAFE), has reported a sale of 7,633 tractors, capturing a market share of 24.1 per cent in March.

A company release said the company closed the financial year 2005-06 with a sale of 66,667 tractors, almost doubling the sales volume from 33,448 during the previous fiscal. TAFE had set a target to end the fiscal with a sale of 60,000 tractors when it acquired New Delhi-based Eicher's tractor business in June 2005.

The company's exports also doubled and the market share for the year showed a growth of around 23 per cent. The tractor industry grew by 19 per cent in 2005-06, it added.

The seamless integration of Eicher's tractor business in a short period has begun paying off in terms of the anticipated synergy benefits, Mallika Srinivasan, director, TAFE, said in the release.

Six new products under the MF, Eicher and TAFE brands were released in a short span which were received well in the market. The plans for the next year are to accelerate this momentum, she added.