 "Tafe plans to launch new platforms under Eicher brand")
World's third largest tractor maker Tractors and Farm Equipment Ltd (Tafe) on Thursday said that it is planning to launch two new platforms under its Eicher brand.
Speaking to reporters after launching new Smart series and India's first premium compact utility tractor Mallika Srinivasan, chairperson and chief executive of Tafe said that the Eicher brand tractor range will be expanded with two new platforms.
This comes on the back drop of company's plan to start exporting Eicher brands.
The Rs 9,300 crore company, of which around Rs 8,000 crore tractor sales, targets to sell around 1.55 lakh tractors, including around 18,000-20,000 units outside India this year as against 1.45 lakh units, a year ago. Tafe will be shipping out sizeable number of 100 hp tractors to African market under Tafe brand.
Tafe has three brands — Massey Ferguson, Eicher and Tafe. The first two brands are sold in the domestic market and the Tafe branded tractors are for export markets like Africa, Sri Lanka, Bangladesh and parts of Europe. "We are positioning Massey Ferguson brand to showcase our technology, while Eicher brand for robust performance."
Srinivasan expects that the industry would grow by around 6-8% in the next three years and Tafe's growth will be faster than industry's.
On today's launch, she said that the company is creating a new segment by launching a premium compact utility tractor.
"Farm operations are undergoing increased mechanisation as the labour is getting costlier and short.The 28 hp tractor will find use in orchard, haulage or range of infrastructure applications," Srinivasan said.
The vehicle has attachments like front end loader and backhoe.The company targets to sell around 1,000 units.
She said with the new Smart series tractors the company will redefine customer experience with respect to productivity, efficiency and return on investments. By end of 12 months, the company hopes to sell around 10,000 units in Smart series.
Agreeing that some of the Tafe vehicles are priced at a higher than competing products Srinivasan said the technology will enable the owner to take back his investment faster.
