To strengthen position in domestic and global markets
29 Feb, 2020
Mahindra & Mahindra Ltd is set to come out with a new range of tractors, developed in collaboration with Mitsubishi of Japan, to further strengthen its position both in the domestic and overseas markets.
About five years ago, M&M entered into a strategic agreement with Mitsubishi Agricultural Machinery (MAM) to acquire a 33 percent stake in the latter and to jointly develop products to address global opportunities in the rice value chain.
Pawan Goenka, Managing Director, Mahindra & Mahindra, said at the company’s earnings conference call: “We are working on a program for developing a new tractor platform called K2. It will have four tractor variants. These will be designed for both domestic and international markets. The work is primarily done in Japan in co-operation with Mitsubishi Agriculture Machinery. This is the most ambitious tractor development we have undertaken.”
Intelligent tractors
While more details about the new platform are awaited, the company indicated that it is also working on intelligent tractors to increase agricultural productivity and address skilled labour shortage issues, among others.
The new K2 platform is expected to be launched in mid-2021 and models will be introduced for two years across horsepower ranges.
Though Mahindra’s growth is driven by the strong performance of its tractors under the Mahindra and Swaraj brands, the company has also come out with products with new features under the Novo, Yuvo and Jivo platforms to showcase its technological edge. Goenka said the tractor market will see positive growth of about five percent in the current quarter. But the industry will end the fiscal with about seven percent decline.
For April-December 2019 period, the tractor industry saw a decline of about 10 percent in domestic sales at 5.66 lakh units. Exports declined by 17 percent to 59,000 units compared with the year-ago period.
“Though it is too early to predict growth for the next fiscal, we expect about five percent growth, with plus or minus 2. Rabi sowing has been good and reservoir levels are also good. On this year’s monsoon, the El Nino effect is going to be neutral. So, it is expected to be normal, which will augur well for the tractor industry,” said Goenka.
![]() |
Mahindra Oja Tractors and Car Launch Event 2023 from South Africa - Tractorgyan
Mahindra is launching the 7 most advanced and lightweight tractors named Mahindra OJA Tractors. This Mahindra tractor range is focused on serving both... |
![]() |
महिंद्रा ने लॉन्च किये धमाकेदार ओजा ट्रैक्टर और कार- लाइव दक्षिण अफ्रीका से
महिंद्रा ओजा एक नया हल्के वजन वाला ट्रैक्टर होगा जो संयुक्त राज्य अमेरिका, जापान और दक्षिण-पूर्व एशिया सहित घरेलू और अंतर्राष्ट्रीय दोनों बाजारों में ... |
![]() |
Mahindra OJA Unveils 7 Revolutionary Lightweight 4WD Tractors
Mahindra Tractors, a part of the Mahindra Group and the world's largest tractor manufacturer by volume, unveils 7 revolutionary lightweight 4wd tracto... |
Escorts Kubota Limited November 2023 Tractor Sales Reports 3.7% Growth, Sold 8,258 Tractors
Faridabad, December 1st, 2023: Escorts Kubota Limited Agri Machinery Business Division in Novem...
Mahindra’s FES in November 2023 Registers 32,074 Tractor Sales, Shows 5% Growth YOY
Mumbai, December 01, 2023: Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), part of...
एस्कॉर्ट्स कुबोटा लिमिटेड की नवम्बर 2023 ट्रैक्टर सेल्स में 3.7% की वृद्धि, 8258 ट्रैक्टर बेचे
एस्कॉर्ट्स कुबोटा लिमिटेड एग्री मशीनरी बिजनेस डिवीजन ने हाल ही में नवम्बर 2023 में हुई कुल ट्रैक्टर...