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Mumbai, April 10, 2018: Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), a part of the USD 19 billion Mahindra Group, maintained its leadership position in the tractor industry, having sold over 3 lac tractors in FY18. With this the company achieved its highest ever annual tractor sales and registered a growth of 22% in the domestic market, in FY18.
The largest tractor player by volume, Mahindra sold 304,019 units in FY18 in the domestic market and 319,468 units in total (domestic + exports) in FY18, registering a growth of 22% and 21% respectively. Currently, Mahindra holds 42.9% market share in the Indian tractor industry and has held this leadership position for the past 35 years.
Speaking on the focus areas of the business, Rajesh Jejurikar, President - Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “Our technology driven product portfolio is based on our in-depth understanding of the farmer requirements and the need to create an effective value proposition. Since inception, we have been enabling FarmTech Prosperity through technology-led innovation and quality driven excellence. Coupled with our channel strength and a comprehensive product portfolio we have achieved highest ever tractor sales in a year. Going beyond selling tractors, at Mahindra we aim to offer a wide range of farming solutions.”
Key Drivers of Growth and Market Leadership
Accessible Technology and Innovation:
Being the global leader in tractors by volumes, Mahindra has always been at the forefront of pioneering cutting edge technology solutions in its products. Infact with the launch of its new range of tractors, the company has pioneered technologically superior farming solutions that are easily accessible to the farmers.
Today, Mahindra's success can be primarily attributed to its keen focus on technology and innovation, resulting in smart tractors such as JIVO, YUVO and NOVO.
In April 2017 the company launched JIVO - a new age, superior technology small tractor platform in the sub 25HP category, best suited for row crop and horticulture farming and in February 2018 it also launched Swaraj 963FE – a higher power tractor in the 60-75 HP category. The earlier launches of YUVO in April 2016 and NOVO in August 2014 have contributed immensely to the growth. Launched in April 2016, and built on a new platform with a unique and industry first 12F+3R full constant-mesh gearbox in the category, Mahindra YUVO is extremely versatile and can be used across more than 30 different farming applications. Mahindra NOVO, on the other hand, was the first new tractor to be designed and developed in-house at Mahindra Research Valley, the company’s global research facility in Chennai. It was clearly a trendsetter in the higher horse power category. Mahindra’s technologically advanced range of products maximise productivity and prosperity, enabling farmers to Rise in life.
More recently, the company further displayed its commitment to pioneering possibilities through technology by showcasing its first ever Intelligent Tractor technology – a pathbreaking and industry-first initiative. Backed by its years of experience in the Indian farms, Mahindra has now embarked on this journey to create autonomous solutions that will meet the unmet requirements of Indian farmers. Developed at the Mahindra Research Valley, the Group’s hub of innovation and technology located in Chennai, the intelligent autonomous tractor is all set to redefine the mechanization process for the global farmer.
With this launch, Mahindra becomes the pioneer in the Indian tractor industry with the unique proposition of an intelligent tractor. This innovation will change the future of farming by increasing productivity, leading to increased food production to feed the growing needs of the world. This truly exemplifies innovative mechanization for the global farming community, in line with Mahindra’s proposition of Farming 3.0.
Digitization – Ushering in an Era of 24x7 Connected Tractor Technology:
Digitization is emerging as a key differentiator to increase productivity and the connected vehicles technology is one such manifestation. Developed by Mahindra, DiGiSENSE is the first of its kind technology platform which is multi-application and multi-product enabled and is a revolutionary connected technology solution. This unique technology connects the owner to his tractor and enables him to control its usage and prevent misuse. It is a smart application that will empower farmers to digitally build knowledge 24X7 about the performance and location of their tractors. Farmers can now avail of live tractor tracking, while remote diagnostics and reports will enable them to monitor the tractor’s health and productivity parameters.
Today Mahindra is the first OEM in India to offer a cloud-based technology platform in the tractor category.
Comprehensive Tractor Portfolio:
Currently, Mahindra has a comprehensive portfolio in tractors ranging from , and spanning basic, advanced and smart tractors.
The entire range of products helps serve the diverse needs of farmers - from land preparation to harvesting as well as post-harvesting requirements. Customer centricity and onus on making high quality, affordable products thorough cost management has been at the core of Mahindra’s success. Starting from the design phase, right up to after sales support, the teams engage with customers at all levels and the new products go through extensive testing across multiple applications.
The key brands and their positioning statements are as below:
Mahindra – Technology se Tarakki
Swaraj - Mera Swaraj
Gromax Trakstar – Badal de Life ka Track
Farm Tech Prosperity – Bringing About A Farming Revolution in India
Mahindra has expanded its business vision to move beyond tractors, to the larger arena of facilitating productivity improvement in Indian agriculture and drive agri-prosperity. In a country such as India where farm mechanization penetration is low, Mahindra plays a significant role in enabling its farmers to improve their productivity and help them to Rise. Its vision is to drive farm prosperity by pursuing the cause of doubling farmer income and contributing to the era of Farming 3.0. Towards this, the company has pioneered various innovations including Samriddhi, MyAgriGuru and TRRINGO, as part of its commitment to deliver Farm Tech Prosperity.
The TRRINGO farm equipment rental business model is one such farming solution that will enable farmers to deploy mechanization technology on a pay per use basis without investing in the asset. This will increase the farmers’ output and prosperity and lead to the inclusive growth of the nation. It is the first organized agriculture equipment rental services which was launched in 2016. A service dedicated to the farmers of the nation, TRRINGO operates as a franchisee based model and effectively brings in new age technology and digitization to the tractor rental business.
Another such facet is Mahindra Samriddhi, which aims to increase agricultural productivity through innovative farming technology, thereby enhancing rural prosperity. It is all about driving inclusive growth by providing customised innovative farming solutions which significantly impact the productivity, prosperity and lives of 2 million farmers by the year 2020 through a widespread self-sustained Samriddhi network. The focus is on going beyond tractors to deliver seeds, crop care and agri- advisory services to the farming community, which in turn will lead to a better quality of life. Today the company has over 300 Samriddhi Centres, offering the farmer easy access to technological know-how, hybrid seeds, soil and irrigation water testing facilities, demo farms, finance and insurance, internet updates and sales and servicing of tractors and tractor implements.
A unique initiative, MyAgriGuru app truly represent Mahindra’s customer-centric business approach which leverages innovative solutions to address farmer requirements. It is a technologically advanced, App based digital advisory platform for farmers to ensure productivity improvement. It is a manifestation of the company’s commitment to deploy the most advanced technological solutions in the agriculture sector. Tools such as these will help facilitate the new era of Farming 3.0, ushering in unprecedented productivity and enhancing farmer incomes significantly, in line with the company’s vision of delivering FarmTech Prosperity.
The Mahindra Group is a USD 19 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defence, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise
Media contact information:
Vice President (Communications)
Mahindra & Mahindra Ltd.
Office Direct Line – + 91 22 28468510
Office Email Address – [email protected]