Page 5 - Tractor Sales

States plough Rs 10 bn in subsidies to incentivise tractor sales this year

The subsidy offered varies from state to state, but it is significant in most cases

Supreme Court order puts brake on sales of tractors, construction vehicles

India is a large tractor market, with average monthly sale of 48,000 units

Strong tractor sales to improve M&M's margin in FY17

Revenues grew 15.6% to Rs 10,172 crore due to price hikes taken across product range in June quarter

Good rains put tractor sales in higher gear

M&M leads the surge with 20% rise in sales during first four months of current fiscal

Domestic tractor sales down 12% during April-Feb FY16

Analysts feel the industry would grow at 8-9% CAGR in the long term