M&M tractors sales rise 32% in September

Mumbai, Oct 03, '06: Mahindra & Mahindra's Farm Equipment sector, a part of the $3 billion Mahindra Group with a growing global presence, sustained its high growth in September. India's leader in tractors posted a growth of 32% over the corresponding month last fiscal. The total sales volumes (domestic + exports) for the month stood at 9729, a 37% rise over last fiscal.

Domestic volumes in September saw a huge jump over last month. M&M sold 9000 tractors in September as compared to 5800 in August 2006.

Export figures showed a healthy growth of 167% over the corresponding month last fiscal.

Cumulative sales (April to September) saw a growth of 30% over the corresponding period last fiscal. The company also posted a growth of 29% in sales including exports clocking 50923 numbers in April-September. Cumulative exports grew 25% in the same period.

Leadership

M&M reasserted its leadership position in the Indian tractor market by closing the last financial year with a 29.7% share of the Indian market, making it the number one tractor company in India for the 23rd year in succession.

It was a position that the company assumed in 1983. M&M's unbeaten leadership is built on a process of product development and technology, supported by innovative support services, marketing and state-of-the-art production facilities spread across India. M&M has the largest tractor manufacturing setup under a single roof, at Kandivili, Mumbai. Besides, it also has manufacturing facilities in Nagpur, Jaipur and Rudrapur.

Mahindras' growth in the exports sector has been achieved by a slew of activities including enhancing distribution strength and franchisee reach.

M&M has a strong presence in all tractor segments i.e. below 25 HP, 25 HP- 35 HP and 45 HP above. Its popular models in the sub 25 HP category include the Bhoomiputra 235 DI and the Bhoomiputra 245 DI while the Mahindra Arjun Ultra range is popular in the above 35 HP category.

M&M has also been increasing its presence in all segments. Last year, the company introduced two new products "� 235 DI and 245 DI -- in the domestic market in the low HP segment and new Arjun Ultra-1 range in the high HP segment, which significantly strengthened the company's position in these segments.

About Mahindra & Mahindra

The US $3 billion Mahindra Group is among the top 10 industrial houses in India. Mahindra & Mahindra is the only Indian company among the top five tractor manufacturers in the world and is the market leader in multi-utility vehicles in India. It has a leading presence in key sectors of the Indian economy, including trade and financial services (Mahindra Intertrade, Mahindra & Mahindra Financial Services Ltd.), automotive components, information technology & telecom (Tech Mahindra, Bristlecone), and infrastructure development (Mahindra GESCO, Mahindra Holidays & Resorts India Ltd., Mahindra World City).

With around 60 years of manufacturing experience, the Mahindra Group has built a strong base in technology, engineering, marketing and distribution. M&M has eight state-of-the-art manufacturing facilities in India spread over 500,000 square meters. The Mahindra Group has ambitious global aspirations and has a presence in 20 countries spread across four continents. Mahindra products are today available in every continent except Antarctica. M&M has made strategic acquisitions of plants in China and the UK, and has 2 assembly plants in the USA.

Its global subsidiaries include Mahindra Europe Srl. based in Italy, Mahindra USA Inc. and Mahindra South Africa. M&M has entered into partnerships with international companies like Renault, France, and International trucks, USA. The Group is celebrating its 60th anniversary in 2005-06.