Posted by Suraj On 28-Jul-2022 11:14 AM
Brazil is the sixth largest tractor market in the world and competitive tractor market after India. Mahindra & Mahindra understands the same and is ready to make a global strategic expansion by setting up an assembly plant in Brazil.
M&M already has three assembly bases in the US, Turkey, and India. All these assembly bases are in the world’s three largest tractor markets. By setting up its latest assembly base, the company wishes to double its manufacturing capacity for Arjun and Novo tractor models. The demand for both tractor models is increasing in each tractor market. The company has also analysed its sales in South Africa. Its next-generation tractor technology has started in South America and African markets.
In Brazil also, M&M sells over 54,000 units yearly, a 5.2% share of Brazil’s market share. This company has a long-term vision to penetrate Western Europe and Southeast Asia’s tractor market in upcoming years. And it looks possible because of the latest generation K2 platform from Mitsubishi Agricultural Machinery and Armatrac brand of tractors.
Presently, the company generated 33.3% turnover from its international sales. In the financial year 2022, M&M sold out 38,000 tractors worldwide. Here North America and Japan were the countries where the company made billions of dollars in revenue by selling its tractor in these markets. Mahindra and Mahindra own a 16% global market share where it sells 3,80,000 units. For the last seven quarters, the company is seeing positive growth, and it is here to stay for a long time. Its subsidiaries are making a profit and launching new tractor models to grow profits at scale.
At last, Mahindra & Mahindra, the leading tractor manufacturing and export giant, is ready to increase its global market footprint by setting up an assembly plant in Brazil.
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