Tractors

The new emission norms for construction equipment vehicles and tractors will now come into force from April 2021 and October 2021, respectively.

There has been a request from the agriculture ministry, construction equipment manufacturers, to provide some time to implement the BS VI emission norms

The push towards tractor financing also comes amid a bleak outlook for automobile sales this fiscalThe tractor financing business is today largely dominated by NBFCs and private banks

Domestic sales of tractors in India fell 14.4% between April and July, reflecting the agricultural stress in many statesSales of tractors are unlikely to see a recovery until October

Mahindra’s tractor sales decreased by 14.7% year-on-year in volume termsThe company’s Ebitda margin for Q4 was 13.5%, better than street expectations

Higher farm mechanization, government subsidies and the increase in minimum support prices (MSPs) have improved prospects for tractor sales, a clear motivation to boost capacity through the JV

While Mahindra and Escorts have showcased their concept driverless tractors, India is also home to the first driverless electric tractor developed by AutoNXT Automation

The government is confident of doubling farmers' income by 2022, says Modi

Of the intended investment, Rs10,000 crore will be classified as capex for expanding production capacity of Mahindra UVs, tractors and commercial vehicles

The panel will submit an interim report in 6 months to help frame fuel economy rules for tractors to moderate their diesel consumption that constitutes nearly 7.7% of India's annual diesel use