Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | Tractor industry on course to register highest-ever domestic sales in FY-18 -G Balachandar

Tractor industry on course to register highest-ever domestic sales in FY-18 -G Balachandar

Share this article Share this article
published Published on Feb 25, 2018   modified Modified on Feb 25, 2018
-The Hindu Business Line

Good kharif crop, govt thrust on agri and rural segments boost sector’s Q3 performance

Chennai:
Encouraged by the continuing momentum in sales, the tractor industry hopes to end the current fiscal with highest-ever domestic volumes close to 6.8 lakh units.

The industry’s previous highest domestic number was in 2013-14 when domestic sales stood at 6.34 lakh units.

Tractor companies and industry analysts project a growth rate of 17-18 per cent for the current fiscal. During the last fiscal, the industry registered domestic sales of 5.8 lakh units.

Tractor makers have said that while the industry’s Q3 performance was better than expected, the sales momentum continued in January, and hence, they expect Q4 to be equally good. Leading players such as Mahindra & Mahindra, Escorts and Sonalika Tractors reported more than 40 per cent growth in their January domestic volumes.

During the first 10-month period of this fiscal, the domestic tractor volumes are reported to have grown by about 18 per cent. During this period, Mahindra and Escorts reported a growth of 18 per cent and 17.5 per cent, respectively.

“In Q3, the tractor industry has performed better than what we had expected. When we started the quarter, we were thinking that it will be flat to may be just marginally positive. But, the industry ended with 8 per cent growth. This is obviously on the basis of very good production of kharif crop, positive sentiment in rural area and government’s thrust in agricultural and rural segments,” according to Pawan Goenka, Managing Director, Mahindra & Mahindra.

“January has seen a 38 per cent increase (domestic and export) and the industry growth will be between 15 per cent and 18 per cent in Q4. This year we expect the industry to end with highest-ever volume,” he said.

Please click here to read more.

The Hindu Business Line, 23 February, 2018, https://www.thehindubusinessline.com/news/tractor-industry-on-course-to-register-highest-ever-domestic-sales-in-fy-18/article22839086.ece?homepage=true


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close