Tractor manufacturer Escorts Ltd will focus on high end tractors and plans to launch new products every six months for the next two years in order to strengthen the company’s presence in this segment.
As part of this strategy, Escorts has launched two new models of `Executive’ Tractors in the large (above 60 HP) category under its premium tractor brand Farmtrac.
“The Indian farmer of today is well informed and an agriculturist by choice,” Mr S Sridhar, CEO, Escorts, Agri Machinery said, adding that in this market power for speed and ease of operations cannot however come at the cost of fuel efficiency.
Available in 60HP and 65HP options, the new tractors are equipped with 4-wheel drive, 24-speed syncroshuttle gearbox for versatility, and a four cylinder engine and costs between Rs 7 and 10 lakh. These will be made at Escorts Faridabad facility where a separate unit has been set up for the purpose. The company expects to make 10,000 units per annum.
The current market for tractors in India stands at around 5.25 lakh units annually, and the demand for large tractors has doubled in the last seven years. “By 2018-19 this is estimated to touch 22-23% of the total demand, and we want to get the leadership position in it,” Mr Sridhar said.