Page 2 - Tractor Industry

Plan to invest up to $50 mn in 2024, launch 105HP tractor in May: CNH India

Italian-American off-road construction and agriculture firm CNH is planning to invest up to USD 50 million in the farm machinery segment in India this year and launch a 105HP tractor in May, according to a top CNH India official. CNH, which produces and sells farm machinery and equipment under the New Holland brand, will focus on the compact range of tractors of below 30-40 horsepower (HP), besides targeting to sell 1,000 baler machines (used for managing stubble) this year. Currently, CNH India has a four per cent market share in the tractor business in India and has a considerable presence in the 45-50 HP range of tractors. Speaking to PTI, CNH India and SAARC Country Manager and Managing Director Narinder Mittal said there is a huge potential in India's agriculture sector, and the company intends to double its market share to 8 per cent in the next four years. "We plan to invest about USD 40-50 million in the current calendar year in the agriculture segment, including the progra

VST Tractors November sales: Total sales drop 19%, tractor sales down 46%

The company registered a rise in its YTD sales data until November 2023, which stood at 22,875 units, 6.9% more when compared to 21,393 units sold during the same period last year

Domestic tractor sales likely to pick up in the second half of 2023-24

Rating agency ICRA pointed out that the domestic tractor industry volumes remained healthy and represented a 12 percent YoY growth in FY2023, touching an all-time high of 9.45 lakh units

El Nino unlikely to dampen tractor industry volumes in a big way

Likely El Niño may water down sentiment but industry does not see huge downside in sales in FY24

Tractor sales growth to halve in FY24, operating margins to improve: CRISIL

However, softening prices of inputs such as steel and pig iron will provide a 100-200 basis points (bps) respite to the operating margin of tractor makers

Electric vehicle launch success key to further gains for M&M stock

SUV launches getting traction, weak rural demand a headwind for tractors

SUVs to tractors: M&M not taking foot off pedal, on recovery road

Favourable agri macros, improving SUV demand, and easing commodity prices augur well for automaker

After underperforming broader mkt, Escorts zooms back onto investors' radar

Its stock price has risen 13.4% this month, against 2.1% fall in BSE Auto index

Tractor sales set to hit speed bumps as pandemic reaches the hinterland

Sentiments have turned negative due to the persistent rise in cases; farmers are saving cash for health-related exigencies

Tractor sales rise by around 30% in February 2021 to 84,690 units

February 2021 sales were lower compared to January 2021 sales of 87,579 units and production of 96,020 units

Tractor sales rise 48% in January, demand expected to remain robust

According to the Federation of Automobile Dealers Associations, retail numbers for January inicated the only segment which was in green (11.14% growth) was tractors, while other segments were in red

Tractor makers sell 71,740 units in December; up 41 per cent year on year

However, month on month the sales dropped for the second month in a row, after reporting continued growth since April

Tractor sales up 48.34 per cent in Nov over last year but down MoM basis

Tractor sales have been growing on a monthly basis since April 2020, except in the month of August

Stable outlook for tractor industry, limited Covid impact on demand: Icra

In June, the industry recorded a 22 per cent growth in wholesale volumes and 10 per cent growth in retail volumes

Bucking pandemic slowdown: June tractor production highest since Jan 2019

Timely arrival of monsoon, record Rabi crop as well as government support for agri initiatives helped tractor sales grow in an otherwise dull auto market

Tractor makers buck the slowdown, expect volumes to increase 5-10%

Prospects of a normal monsoon and an expanded government food programme are helping in a modest recovery

Demand uptick on the back of firm crop prices to bolster tractor stocks

Higher rabi output, no BSVI impact and firm crop prices are positives

M&M, TAFE look to rev up the tractor market

To rekindle consumer interest, companies introduce technology and design as brand differentiators, reposition their products and create new categories

Good monsoon to boost tractor volumes

The tractor industry has projected a growth of nearly 10% this year after sales had slipped by 10% during 2015 calendar