Page 5 - Tractor Sales
M&M pre-tax profit skids 15%, revenue falls 15% as overall sales decline
The Mumbai-based firm remained cautious in its outlook on passenger vehicles amid a prolonged slowdown and disruptions expected the switchover to BSVI emission norms
 "M&M pre-tax profit skids 15%, revenue falls 15% as overall sales decline")
Auto components maker Carraro relies on new tech to drive India business
The move will help the company to tide over the slowdown, said Alberto Negri, chief executive
 "Auto components maker Carraro relies on new tech to drive India business")
Tepid credit offtake, dipping tractor sales hint at farm sector slowdown
Delayed monsoon arrival in parts of the country compounds farmers' woes; overall kharif sowing down by 12%
 "Tepid credit offtake, dipping tractor sales hint at farm sector slowdown")
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
 "States plough Rs 10 bn in subsidies to incentivise tractor sales this year")
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
 "Supreme Court order puts brake on sales of tractors, construction vehicles")
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
 "Strong tractor sales to improve M&M's margin in FY17")
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
 "Good rains put tractor sales in higher gear")
Domestic tractor sales down 12% during April-Feb FY16
Analysts feel the industry would grow at 8-9% CAGR in the long term
 "Domestic tractor sales down 12% during April-Feb FY16")