Mahindra had announced increase in prices of passenger vehicles and commercial vehicles on December 15 with effect January 1 2021
Mahindra Farm Equipment Sector has announced a price increase across its range of tractors from 1st January 2021. This price hike is in view of increased commodity prices while details of price increase will be revealed later.
As we come to the end of the calendar year and as has been the usual practice at the start of each New Year, several other automakers in the country several automakers have announced similar price hikes. Mahindra had earlier announced a hike in prices of its passenger and commercial vehicles on 15th December 2020 which would come into effect from 1st Jan 2021.
Domestic Sales Surge 55 percent In Nov
Mahindra Tractors, a leader in the Tractor segment in India, has noted a surge in demand in November 2020. Sales increased 55 percent to 31,619 units in the past month as against 21,031 units sold in Nov 19 fuelled by strong demand in the rural sector due to higher Kharif output and increased Rabi sowing.
Festive demand and the emergence out of the ill effects seen during the early months of this year in view of the COVID-19 pandemic appear to have boosted demand. Exports also grew 70% to 1,107 units compared to 617 units in November 2019. The company also expects to see increased sales with the Government of India focus on rural growth coupled with the outlay under Atmanirbhar Bharat 3.0.
Mahindra’s New Telangana Plant for K2 Series Tractors
Last month, Mahindra announced its intention to invest Rs.100 crore in its Telangana plant to build new K2 series tractors. This plant, established in 2012 currently produces Yuvo and Jivo tractors and recently added the Plus Series of tractors to its production lines.
The new tractor series called K2 has been developed in collaboration with engineering teams from Mitsubishi Mahindra Agricultural Machinery, Japan and Mahindra Research Valley, India. The new series will be light weight tractors in the 30-100 hp segment, both for domestic and international markets.
It will allow the company to launch products across four new tractor platforms in the Sub Compact, Compact, Small Utility and Large Utility tractor categories, covering 37 models across various HP points.
The Zaheerabad plant is technologically advanced with facility to roll out over 330 different tractor variants and a capacity of 1 lakh units per year on a two shift basis. The plant currently employs around 1,500 workforce and adopts the TPM – Total Productive Maintenance philosophy with 65 percent of production being for exports.
