Mahindra posts 30% growth in tractor sales in USA.
Even as the domestic tractor sales continued to remained tepid, India’s largest tractor maker, Mahindra & Mahindra has posted 30 per cent growth in retail sales in the United States of America for FY-13 selling over 10,000 tractors. The wholesale numbers for the last fiscal grew by 7 per cent.
The company gained over 200 basis points in market share during FY-13 and ended the year with the number three manufacturer in the USA under 80 horsepower tractor segment.
Pawan Goenka, President, Automotive & Farm Equipment Sectors, Mahindra & Mahindra Ltd said, “This success can be attributed to their innovative and aggressive marketing and sales strategies which have allowed Mahindra to increase its presence in the highly competitive US market, where we compete against other global tractor companies. I am confident that MUSA will continue on its growth path during the current fiscal year as well.”
During the year, Mahindra USA or MUSA also recruited 79 new dealers with the channel strength expanding to over 400 locations. The company was also ranked No. 2 in the 2013 North American Equipment Dealers Association (NAEDA) Annual Dealer / Manufacturer Relations Survey for Overall Satisfaction, indicating a high degree of customer satisfaction.
In FY-2013, MUSA opened its Northeast Authorized Distribution Center to serve and support the Northeast USA and Canada and launched mCRD (Mahindra Common Rail Diesel) Tier IV powered tractor models and mFORCE and mPOWER higher horsepower tractor models. The company also focused on more efficient and effective brand building with increased investment in advertising and the roll out of Regional Brand Manager (RBM) sales and marketing support.
“A series of dealer and customer-centric initiatives have helped MUSA sales cross the 10,000 tractor benchmark for two consecutive years, marking an inflection point for the company in the US market. This momentum is set to continue during F-2014, on the back of more initiatives from MUSA,” said Ruzbeh Irani, chief executive – International Operations Automotive and Farm Equipment Sectors & Member of the Group Executive Board.
Mahindra USA which entered the US market in 1994 and has since built a decent customer base with its range of tractors from 18 HP – 83 HP which cater to farms of all sizes. The company has also made a concerted effort to integrate itself within the communities that it serves. It was the first Indian brand to sponsor a race car in the 2009 NASCAR.
Source : The Economic Times.