Tractor firms increase output as September gross sales surge 80%

CHENNAI: Tractor is the one section of the automotive market that has seen double digit gross sales progress since July, with September retails up 80% year-onyear. In consequence, tractor firms are ramping up manufacturing capability hoping that this gross sales spike will proceed past the pageant and harvest season.
Whereas there aren’t any indications about organising new factories simply but, firms like Mahindra, Escorts and Sonalika are growing shifts and clearing provide chain snags to hit 100% utilisation each for home and export gross sales.

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“For 18 months, tractor factories have been engaged on a single or 1.5 shifts at greatest due to demand slowdown. With the numbers choosing up, factories are shifting to 2 or three shifts to hit 100% capability utilisation. The capability is presently 9.5 lakh items on a two-shift foundation however we are able to additionally go to a few shifts if the demand holds up,” mentioned Tractor Producers Affiliation president T R Kesavan.
A survey by ICRA confirmed that simply 10-12% of those that bought tractors opted for the mortgage moratorium versus 75% truck and bus patrons. Tractor financing additionally picked up as a result of financiers are cautious of truck and bus loans, mentioned ICRA VP Shamsher Dewan.
Watch Tractor firms increase output as September gross sales surge 80%

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