Priced at Rsa535,000 the Target meant for horticulture applications, claims to be the most affordable tractor in the 25hp to 30hp segment. Mahindra aims to corner 27-30% share in the 50,000 per annum light weight tractor market, said company officials.
“Today we are launching two models on this lightweight platform — 25hp and 29hp. We are working on extending this platform eventually to up to 45hp,” Harish Chavan, CEO, Swaraj Division said at the launch.
Rajesh Jejurikar, executive director– automotive and farm equipment sectors at Mahindra & Mahindra said M&M will have a series of new launches under the Swaraj brand. “The brand has a strong core DNA. We need to inject some more modernity and make it more aspirational as the farming segment is evolving. Younger people and those from different professions are moving into farming,” he said citing an instance of cricketer Mahendra Singh Dhoni who bought 40 acres of land and ramped up the cultivation of fruits and vegetables on the land. Mahindra has appointed him as the brand ambassador for the Swaraj brand of tractors.
Mahindra ‘s market share in the tractor market (Swaraj and Mahindra combined) currently stands at 42.2% and the company expects to increase the same with the new launches.
M&M has invested Rs200 crore in the design and development of the latest model. The Target will first be launched in Maharashtra and Gujarat and will subsequently be launched in rest of the country.These lightweight tractors can get into smaller fields, are very comfortable with easy to reach controls, and boasts of car like features, said the officials. “These tractors would be positioned in the 20-30hp tractors– which is growing at a CAGR of 18% as compared to 5% CAGR for those above 30hp tractors,” said Hemant Sikka, president, farm equipment sector at Mahindra and Mahindra. “Horticulture is the fastest growing category contributing to 30% of agriculture GDP. With the new offering we are looking to address the white space,” said Sikka.
For all the latest Automobile News Click Here
For the latest news and updates, follow us on Google News.
