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• Sonalika Tractors overall sales in February 2024 up 6.2% at 9,722 units

  Sonalika Tractors has recorded its highest ever February overall market share of 16.1% and highest market share gain in the industry, the company said.

  

• Mahindra Farm Equipment sector domestic sales fall 19% to 20,121 units in February 2024

  Total tractor sales (Domestic + Exports) during February 2024 were down by 16% to 21,672 units, as against 25,791 units for the same period last year.. Exports for the month stood at 1,551 units, the company said..

  

• Escorts Kubota domestic tractor sales down 17% to 6,041 units in February

  Tractor sales dipped this month due to the continuing impact of uneven monsoon coupled with insufficient rainfall and diminished reservoir levels which impacted the Kharif output, the company said.

  

• Tractor sales in India hit a rough patch, reflecting rural economic slowdown

  Tractor sales in India, a key indicator of rural economic health, have dropped by 4% in the first nine months of the fiscal year. States like Maharashtra, Karnataka, and Telangana experienced significant declines, attributed to erratic weather conditions and lower agricultural output. However, Uttar Pradesh saw a 6% increase in tractor sales, but it couldn't offset the declines in other states.

  

• Farmers' demand for guaranteed MSP unlikely to have significant impact on tractor industry: M&M

  Mahindra & Mahindra reports Q3 PAT increase to INR 2,658 crore. Tractor sales decline 4.1%. Tractor industry volume declines due to weaker monsoon, weather vagaries, high base, and lower reservoir levels. Farmers' protest unlikely to impact tractor industry. Maharashtra, Andhra Pradesh, Telangana, and Karnataka markets face stress. Good monsoon and reservoir levels will boost rural sentiment.

  

• India's Escorts Kubota misses Q3 profit view on lower tractor demand

  The company's standalone net profit rose nearly 49% to 2.77 billion rupees (about USD 33 million) for the three months ended Dec. 31, but fell short of analysts' expectations of 2.82 billion rupees, per LSEG data. India's festive period was a mixed one for tractors, analysts said. Uneven and below-normal rains towards the end of quarter also did not help.

  

• CNH plans to invest up to USD 50 mn in India in 2024; launch 105HP tractor in May

  Speaking to PTI, CNH India and SAARC Country Manager and Managing Director Narinder Mittal said there is a huge potential in India's agriculture sector, and the company intends to double its market share to 8 per cent in the next four years.

  

• Railway recruitment to be annual process, says Ashwini Vaishnaw

  Now the Railways issues advertisements for recruitment of different posts keeping the need of the organisation in mind instead of following a mandatory recruitment calendar like some other govt institutions. He said they have recently completed the employment process for 1.5 lakh new employees and immediately after concluding that they have started the new process for selection of assistant loco pilots (ALPs).

  

• CNH New Holland completes 25 years in India

  Initiating India operations in 1998, the brand has pioneered and introduced technological advancements for the country’s farming sector, the company said.

  

• Embraer sees record agriculture plane deliveries this year

  Deliveries of the Ipanema aircraft are projected to reach 70 units in 2024, Embraer said in a statement, up from 65 last year and eclipsing the record of 67 delivered in 2011. That level would keep the plane's strong market momentum after continuous growth in both sales and deliveries since 2020, when the company launched the current EMB-203 version of the aircraft, which runs on ethanol.

  

• CASE Construction Equipment signs MOU with IIT Indore to set up Centre of Excellence

  The association is a part of CASE’s CSR initiatives and aims to foster increased collaboration between academics and the industry for exchange of ideas, knowledge enhancement and research. The Centre is scheduled to be ready by March 2024.