Escorts Limited has launched its upgraded versions of Powertrac series of tractors. With this, Escorts is eying to gain number two position in the mid-sized tractor market.
Currently, Mahindra and Mahindra is the market leader with 29 per cent tractor market share followed by Tafe with 16 per cent market share. Escorts holds third position with 12 per cent market share.
The new diesel plus tractor series offers 10 per cent power upgrade and hence better mileage, higher horsepower ratings on its existing range. According to company, the series caters to the emerging ‘commerce-minded’ segment of the Indian farmers, who use their tractors not just for regular farm work but also as a source of generating additional income.
Speaking at the launch, S. Sridhar, CEO, Escorts Agri Machinery said, “The new DS-PLUS tractors from Powertrac stand for a unique combination of power and fuel efficiency that is second to none. These tractors are designed to not only save 10-15 per cent of diesel to more than negate the impact of diesel price increases, these will also enable farmers to substantially increase their productivity and hence their incomes. The tractors are priced attractively to provide farmers the best value proposition in the mass tractor segment.” The price range of upgraded to Powetrac 37, 41 and 45 HP is between Rs 4.75 to 5.75 lakh. Recently, Escorts has introduced Farmtrac 6060 and Farmtrac 6065 tractors, Escorts Limited is aiming at high-end tractor segment in 60HP and 65HP category and has sold over 1000 units.
Commenting on this, Shenu Agarwal, head, Escorts Agri Machinery said, "The usage of tractors for non-agriculture purpose is increasing. Now, it is more commercial in nature and growing fast. Whether it is custom-hiring or usage in alternate commercial applications, Indian farmers are increasingly looking at avenues to take the maximum out of their tractors. These practices require tractors to be able to work for longer hours, operate heavier and bigger implements, and consume lesser fuel. With a revolutionary design that offers an unmatched combination of power and fuel efficiency, the new DS-Plus Series tractors helps these farmers earn more and save more."
The domestic tractor market size is over half-million tractor units per annum, which has been growing at a compounded rate of over 10 per cent in the last five years. Escorts is also planning to foray into manufacturing of tractor implements. However, Shridhar did not share details saying that it will take another one year to launch such products.