M&M: First Indian brand to roll out 3 million tractors

Mahindra & Mahindra Limited, the world’s largest farm tractor manufacturer by volume has announced that it has become the first Indian tractor brand to roll out 3 million tractors. This manufacturing milestone has been achieved by the company during the month of March 2019.

It also reached the milestone of being the first Indian tractor manufacturer producing over 2 lakh tractors in FY19, which is the highest-ever by an Indian tractor brand in any single fiscal year.

The company had crossed its 1 million units production mark way back in 2004 and then in 2009 it became the world’s highest selling farm tractor brand. The 2 million units production mark was achieved by it in 2013, i.e., it took 9 years to add another million to its record. However, the next million units mark was achieved in a span of 6 years, inclusive of exports.

To celebrate this milestone, the company has planned to roll out a 360-degree campaign titled ‘Aapka Aabhar 30 Lakh Baar’ for customers in India. It will extend special consumer offers, service benefits and finance offers to new and existing customers of Mahindra branded products.

M&M closed FY19 with double digit growth of 11 per cent at an overall level. The commercial vehicles segment and exports also posted strong growth rates of 15 per cent and 37 per cent respectively.

On Wednesday, the stock of M&M was up by 1.4 per cent to make an intraday high of Rs. 676.75 per share and closed at Rs. 658.15.