I call the USA our emerging market: Anand Mahindra
With the aim of becoming one of the most admired corporations by 2020-21, the Mahindra Group is looking at its successful tractors business, where it is synergising automotive technology with farm equipment, to take the lead. Already the world's largest tractor manufacturer by volumes, our country’s $16.5-billion homegrown multinational corporation (MNC) is seeking to enhance its presence in Western market like the US.
‘The glamorous side is SUVs but frankly the tractor side is where we are number one in the world. Our brand is making global headway faster on tractors than auto,’ said Mahindra Group Chairman and MD Anand Mahindra. Highlighting the progress that the group has made in the farm equipment sector, he said that the latest tractor, Arjun Novo, was an example of it.
‘Our goal was to say we are second to none in technology. We don't want to be value for money tractor that is beating out John Dere and all... This product has incorporated auto technology in the tractor. If you look at electronics, suspension, ergonomics... the state-of-the-art knowledge of R&D we had in auto has come in to (it),’ said Mahindra.
‘Mahindra group is really getting its act together of synergy in auto technology. This product (tractor) has gone to a different level,’ he said. Commenting on the expansion of the tractor business in developed markets, Mahindra said, ‘I call America our emerging market, they find it very amusing when I said that. The fastest growth we have got in the last year and a half is in America. We have grown in 35-40 per cent.’
The main competitors there are John Dere and New Holland and in the segment Mahindra operates, its market share now has reached 10 per cent, he added. In the last fiscal the group had sold a total of 2,67,635 tractors.