In an attempt to participate in the fastest-growing horticulture space, we have news from Swaraj Tractors. It is the country’s second-largest tractor maker which forms a part of the Mahindra Group. The company has brought in a new range of 20-30 horsepower tractors under the brand Target.
The introduction of Target aims to play a major role in product revamp at Swaraj. As confirmed, the brand is likely to witness five new platforms. All of these will cater to multiple categories including electric and autonomous tractors. Apart from expanding the product range, the company is also actively setting up its third manufacturing facility. This unit will go live in the next couple of quarters.
Swaraj has been the fastest-growing tractor brand in the last decade. And thus, the plan to introduce this new range of tractors is to sustain the outperformance and grow the market share. With this range, Swaraj is expecting to bring in incremental sales. While India is a large cereal-consuming nation, the horticulture segment too has been significantly outpacing the market. With a crop area of just 18 per cent, horticulture accounts for almost 30 per cent of agri-GDP. Thus it is a very important segment that Swaraj aims to participate in with a new lineup of products.
This new range of compact lightweight tractors is a result of feedback taken from over 1,500 prospective buyers. It gets the narrowest track width and low turning radius. This will allow farmers to follow through tight spaces effortlessly and efficiently. Thus significantly increasing productivity and minimising crop damage, as claimed by the company.
As it stands, Swaraj Tractors will first debut two models in the 25 and 29 HP categories under the Swaraj Target range. The Swaraj Target 630 model will retail through Swaraj’s extensive dealer network in Maharashtra and Karnataka. Starting with a competitive price starting from INR 5.35 lakh ex-showroom, customers will find this an attractive offering.
In the market of FY-23, Swaraj Tractors sold a total of 1.28 lakh units. Thus registering a growth of over 23 per cent. During the last fiscal year, the tractor maker’s market share grew by 189 basis points to 15.55 per cent from 13.65 per cent. Swaraj mentioned that the 20-30 horsepower range has been growing at 18 per cent. And this is a very encouraging number. The company is now targeting about 27-30 per cent market share in the 20-30 horsepower segment.
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