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M & M sets global ambitions in farm machinery

Mahindra & Mahindra ended the year with total domestic volumes of 2.48 lakh units (2.02 lakh) an increase of 23 per cent.

The company attributed the growth in market share by two per cent to new product launches – Yuvo and Arjun Novo, which saw tremendous acceptance from the customers, correction of local networks to ensure better reach and collaboration of Swaraj and M&M brand tractors to challenge  competition.  

M & M works  to be a truly global company in the tractor and  full line farm machinery business with a geography mix of 50:50 regarding domestic and international revenues by FY19.  Presently, the local share is 63 per cent. 

The domestic tractor industry managed to end the fiscal 2016-17 with a decent double-digit growth in sales, which comes after two consecutive years of drop in volumes. Along with M & M, Sonalika International Tractors Ltd (Sonalika ITL) and Escorts have reported strong growth. Sonalika registered about 20 per cent growth in its sales at 81,531 units in 2016-17 and the company has achieved its highest ever sales in a year that had effects of demonetisation. Escorts’ tractor sales grew by 24 per cent at 62,699 units in 2016-17.

Normal monsoon has been a big driver of growth in the previous fiscal.  It led to an improvement in sentiments in the farming community.

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