Mahindra & Mahindra will launch four tractors in the current financial year and expects 10 per cent growth in its farm equipment sales by March 2010.
“We have already launched six variants in the last four months. We will launch four more tractors, comprising variants as well as new models, in this financial year,” M&M Farm Equipment Sector Senior Vice-President (Marketing) Sanjeev Goyle told PTI on the sidelines of CII Marketing Summit.
The tractor market is expected to grow by 6-7 per cent in this fiscal and the company is aiming a 10 per cent growth, he said.
M&M has witnessed 14 per cent growth in its sales in the first quarter of this financial year, Goyle added.
Speaking on the monsoons, he said the effect of a bad monsoon would be felt mainly in the next financial year.
“Usually there is a lag effect of 6-8 months of a bad monsoon, surely it is going to affect sales in agri business ... About 55 per cent of our tractor sales come from the agriculture sector,” Goyle said.
The new tractors would be launched with 35-60 horsepower engines, he added. The company has 900 sales point across the country for selling various farm equipment.