Tractor major Escorts Ltd today launched a new range of tractors in commercial segment, aiming to capture 20 per cent market share in this space.
The new tractor range is available in 25 to 50 HP capacity and this range has been developed keeping in mind the increasing usage of tractors in other than the farming segment, company’s Head marketing Shenu Aggarwal said here today.
He said tractors for commercial segment constitute almost 40 per cent of country’s total tractor market size of 5.25 lakh units.
“Our aim is to capture 20 per cent market share in commercial segment of tractors,” he said.
Stating that commercial use of tractors is increasing rapidly in the country, he said that the new range of tractors would allow farmers to earn more income by deploying them into for custom hiring, hauling, loading, digging and other commercial applications.
He said the new range of tractors comes up with engine which provides 10 per cent extra power and 10 per cent saving on fuel. “The new Powertrac tractors gets better on fuel savings and bigger on power, enabling farmers to earn more and save more,” he said.
Sameer Tandon, Head - Sales of the company said though overall tractors’ market contracted by 1 per cent but in northern part of the country the market expanded by 7-8 per cent.
Escorts clocked growth of 1.5 per cent in sales at 64,000 tractors during October-September 2012 as against sales in corresponding period, he said.