Now, Ferrari tractor for high-end farming
- China says no to Arunachal youth in India delegation, minister says letâs call off trip
- Lok Sabha polls: Tamizh Talkies
- BJP leader to Narendra Modi critics: You will soon be in Pakistan, not India
- The Third Front: Why transgenders remain a minority in election process
- Elections LIVE 2014: BJP disapproves Giriraj Singh's Pakistan remark
Escorts is lining up a range of new launches — high on performance, technology and a touch of glamour to attract high-end farmers.
Farmers' aspirations are growing and Escorts believes that what happened with bikes and cars will happen to tractors too — they will follow the path and move towards premium higher HP and Specialty tractors. This is because Escort's research indicates that there is informal consolidation of land taking place, and farmers are moving to commercial farming and mechanisation is happening at a faster pace, making the rural landscape change rapidly.
Escorts CMD Rajan Nanda said India is producing surplus food and exporting and farmers' techniques were changing as they moved towards using advanced implements and high yield varieties.
It will become difficult to spot cows with plough on Indian farms, added Nanda.
According to Escorts, the share of lower HP (less than 35 HP) tractors in the country has started to shrink. The below HP range tractor accounted for 15% of the total market in 2011-12 but was going to be at 8% next year while share of the 50 HP and above tractors was expected to go up from 12% in 2-11-12 to 23%. Similarly there is a 10 times growth expected in the specialty tractor segment from around 5,000 units to 50,000 units in the same time.
Hence, Escorts was growing its higher HP and specialty tractor portfolio. The first market Escorts is targeting with its specialty tractors are the vineyards, orchards and green houses of Maharashtra. The company launched a 26HP Ferrari in Pune on Wednesday. Escorts tied up with makers of the Ferrari Tractors of Italy, to bring their tractors to India. For now these tractors will be imported as completely-built units from Italy.
The Ferrari tractor comes with a four-wheel drive with four equal sized wheels, front-loaded engine, and oscillating-type chassis. Apart from the tie up to bring Ferrari tractors, Escorts is also growing its Farmtrac brand, which it calls the executive tractor. This is part of the company's strategy to gain leadership in the high -end segment within the next three years, Escorts joint MD Nikhil Nanda said.