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Articles Tagged with ''Mahindra''

Mahindra Records Growth in Domestic Tractor Sales, While Exports Fall 12%

October 15, 2019 | Posted in Ag Equipment Worldwide

Indian tractor manufacturer Mahindra sold a record number of tractors in its most recent financial year, as the domestic market continued to grow sufficiently to offset lower export sales resulting from inventory adjustments in key markets.

Mahindra Announces JV with Ford Motor, Tractor Exports Drop 41%

October 3, 2019 | Posted in Ag Equipment Worldwide

Ford Motor announced on Oct. 1 that it has agreed to sell a majority share (51%) of its business in India to Mahindra & Mahindra as part of a $275 million joint venture, according to a report by CNBC. This venture will develop, market and distribute Ford brand vehicles in India and Ford brand and Mahindra brand vehicles in “high-growth emerging markets around the world,” according to Ford.

Mahindra August Tractor Sales Drop 15%; Tractor Exports Down 33%

September 3, 2019 | Posted in Ag Equipment Worldwide, Equipment & Equipment Sales

Source: The Economic Times

On Sept. 1, the Indian tractor manufacturer announced that its August domestic tractor sales had fallen 15% to 13,871 units, compared to 16,375 units in August 2018. Additionally, Mahindra reported that its tractor exports had also dropped 33% to 946 units in August 2019, compared to 1,410 units in August 2018.

India's Escorts Revenues Grow as It Pays Down Historical Debts

August 16, 2019 | Posted in Ag Equipment Worldwide, Electric Machinery

In the year that Escorts, the Indian tractor and construction machinery business, finished paying off historical debts to a former supplier, the group saw revenues climb 23.5% above the prior 12 month period.

Mahindra Invests in Swiss Agri-Tech Business Gamaya

July 18, 2019 | Posted in Ag Equipment Worldwide, Mergers & Acquisitions

India’s largest tractor and farm machinery manufacturer has begun investing in non-iron agricultural technology for the first time.

Mahindra Focuses on Crop-Specific Farm Tech Amid Falling Tractor Sales

July 12, 2019 | Posted in Ag Equipment Worldwide

Source: LiveMint

The Indian tractor manufacturer says that it will be shifting its focus beyond just tractors to work on producing an entire “farm machinery ecosystem” to better serve its farmers. This follows a large drop in Indian tractor sales that pushed Mahindra to cut production at most of its facilities.

Indian Tractor Manufacturers Cut Production Amid 15% Sales Drop

June 27, 2019 | Posted in Ag Equipment Worldwide

Mahindra & Mahindra recently announced up to 13 days of no-production for its farm equipment factories following a 15% drop in tractor sales over the last 3 months, with tractor manufacturer Escorts also making plans to reduce inventory over the summer.

Mahindra Enters into Strategic Alliance with Switzerland-based Gamaya

Acquires 11.25% stake in Agri-technology firm

June 14, 2019 | Posted in Ag Equipment Worldwide

Mahindra & Mahindra’s Farm Equipment Sector (FES), a part of the USD 20.7 billion Mahindra Group today announced an investment of CHF 4.3 million (US$ 4.3 million) for an 11.25% stake in Switzerland based agri technology firm Gamaya SA.

M&M to Expand into Africa, Plans Manufacturing in Sudan, Kenya

June 13, 2019 | Posted in Ag Equipment Worldwide

Source: Business Standard

Mahindra & Mahindra (M&M) plans to increase localization of its Scorpio pick-up at its factory in South Africa’s Durban, as it seeks to make deeper inroads into the adjoining African markets and get around trade barriers.

Tractor Industry to Grow 8-10% Over the Next 2-3 years, Says Mahindra and Mahindra

June 10, 2019 | Posted in Ag Equipment Worldwide

Source: CNBC TV18

Mahindra and Mahindra (M&M) VP spoke positively last month of the tractor market and M&M’s future growth, despite the company reporting a mixed fourth quarter ended March 31st. Net profit was reported at Rs 969 crore ($139,148,400) in the fourth quarter, down 16% from the same period last year.

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