Escorts Kubota posts Q4 profit rise
Tractor maker Escorts Kubota reported a 30.5% rise in fourth-quarter profit on Thursday, as a fall in costs offset lower demand.

VST Zetor launches new range of tractors
"Developed at VST Zetor plant in India, these tractors feature an indigenously made powerful, best-in-class DI Engine, fully constant mesh transmission with helical gears and VZmatic hydraulics. Its wider platform, dual diaphragm clutch, optimum turning Radius, adjustable premium seat, dual-acting power steering and aerodynamic styling ensure ease of operation with desired comfort," it said.

Construction equipment sales rise 26% to 1,35,650 units in FY24: ICEMA

M&M receives 674 patents in FY24

Farm equipment maker Kubota wants to make India its global hub, like Suzuki

The acquisition of Escorts in 2022, leading to the rebranding as Escorts Kubota, a prominent tractor manufacturer in India, which held the fourth-largest global market share, offered Kubota a crucial foothold in the Indian and international
markets, complementing its strengths with Escorts' established presence.
 

Mahindra Tractors sells 40 lakh units, including exports, in 60 years
New Delhi: Mahindra Tractors, part of the Mahindra Group and the world’s largest tractor manufacturer by volume, has sold its 40th lakh tractor, inclusive of exports in March 2024.

Sany Heavy Industry India sales, service office opened in Rayagada, Odisha
New Delhi: Sany Heavy Industry India Pvt Ltd, a leading global provider of construction machinery and equipment, has announced the opening of Raghunath Machinary head office in Rayagada, Odisha.

India needs policy push to harvest benefits of e-tractors
New Delhi: Even though a record 1.66 million electric vehicles (EVs) were sold in India in FY24, according to the Ministry of Road Transport and Highways, only four were classified as agricultural tractors. Two-wheelers and three-wheelers made up for 94% of all EVs sold in FY24, though sales of electric cars and buses increased approximately 90% and 75%, respectively, over FY23.

Swaraj Tractors unveils a limited-edition tractor of its five variants to mark its golden jubilee

Domestic mining and construction equipment industry volumes estimated to decline by 12-15% YoY in FY25, says ICRA
The volumes of the domestic mining and construction equipment (MCE) industry is projected to decline in FY2025 following two consecutive years of strong growth viz. 26 per cent in FY2023 and 24 per cent in FY2024E, said a report by ICRA. The reversal in this growth trend, ICRA stated, will be driven by a slowdown in the new project award activity in Q4 FY2024 and Q1 FY2025, as the Model Code of Conduct will remain in force during the Parliamentary Elections in April-May 2024 (till the announcement of results on June 4, 2024). 

Escorts Kubota to hike prices of its models from May 1
New Delhi: Escorts Kubota Limited, a leading agri-machinery business company, proposes to increase the prices of its products from May 1 2024, the company said in a regulatory filing on Monday.

CNH Industrial looks to leverage India's tech skills, cost advantages for global requirements

Election, emission norms key factors to affect construction equipment demand in 2024 says CASE Construction
The Indian construction equipment industry has been growing in high double-digit growth over the last several quarters. In fact, as per the latest data shared by the Indian Construction Equipment Manufacturers Association (ICEMA), the apex body representing the industry, in Q3 FY2024, the industry clocked sales of 36,055 units, which was 30 percent higher YoY.

Construction equipment industry achieves second consecutive year of double-digit growth

Sterling Tools signs MoU with South Korea’s Yongin Electronics for EV components facility
Sterling Tools Limited, the automotive fastener manufacturer, through its subsidiary, Motor Control Units (MCUs) in India, has signed a Memorandum of Understanding (MoU) with South Korea’s Yongin Electronics Co Ltd, a supplier of components to the Hyundai Kia Motor Group. 

Volvo Group’s SDLG inaugurates its first India manufacturing facility in Bengaluru
SDLG, a member of Volvo Group, which offers sustainable solutions to construction, earthmoving, infrastructure and mining projects has inaugurated its first manufacturing facility in Bengaluru, India. 

Mahindra surpasses 40 lakh tractor sales milestone
Mahindra Tractors, part of the Mahindra Group and the world’s largest tractor manufacturer by volume, has achieved a milestone of selling the 40th lakh tractor, inclusive of exports in March 2024.

CASE India rolls out 20,000th vibratory compactor from Pithampur, MP, facility
New Delhi: CASE Construction Equipment, a brand of CNH, has rolled out 20,000th Vibratory Compactors from its facility in Pithampur, Madhya Pradesh, the sole manufacturing hub of CNH for compactors globally .

Sany India launches first fully electric indigenous open-cast mining truck
Sany India, a construction and mining equipment manufacturer, has introduced the SKT105E Electric Dump Truck, the first fully electric open cast mining truck. 

Domestic tractor sales fall 8% in FY24 on El Nino impact
Chennai: The tractor industry has ended the fiscal FY24 with an 8 per cent decline in domestic sales after reporting peak volumes in the previous fiscal. Though tractor exports fell 22 per cent in FY24, the March quarter signalled a rebound with positive growth in shipments.

CNH expands India Technology Center, opens Multi-Vehicle Simulator
New Delhi: CNH, a global leader in agricultural and construction solutions, has added a cutting-edge Multi-Vehicle Simulator (MVS) at the company’s India Technology Center (ITC).

Sonalika Tractors records overall market share of 15.3% in FY24
New Delhi: India’s leading tractor export brand, Sonalika Tractors concluded FY24 with an overall estimated annual market share of 15.3%. This includes an estimated 34.4% tractor exports market share establishing Sonalika as India’s number one tractor exporter by leveraging its out of the box approach, the company said.

AutoNxt Automation raises around $3 million in Pre-Series A from Saama
Mumbai-headquartered electric powertrain and off-road autonomous tech start-up AutoNxt Automation has raised around $3 million (Rs 25 crore) in Pre-Series A round of funding led by Saama.

Escorts Kubota appoints Kenji Ennyu as Chief Officer in Operation Division
New Delhi: Escorts Kubota Limited has announced the appointment of Kenji Ennyu as the Chief Officer in the Operation Division (Senior Management). The appointment, effective from April 1, 2024, on a full-time basis , comes in compliance with the SEBI Listing Regulations 30.

Escorts Kubota domestic sales at 8,054 tractors in March
New Delhi: Escorts Kubota Limited Agri Machinery Business Division in March 2024 sold 8,587 tractors as against 10,305 tractors sold in March 2023, which observed 16% drop. Export tractor sales in March 2024 were at 533 as against 704 tractors sold in March 2023.

Mahindra’s farm equipment domestic sales fall 28% Y-o-Y to 24,276 units

Force Motors to shut down tractor unit from March 31

Force Motors to shut down its agricultural tractors business
Force Motors said on Friday it will close its agricultural tractors business and related activities from March 31. The closure of business is part of the company's product rationalisation programme under which it will focus on its core segments such as shared mobility transportation, last mile mobility and the creation of special vehicles for civil and defence applications, the company added.

Force Motors exiting tractor business to focus on core segments
Bengaluru: Force Motors Ltd board has decided to exit the tractor business, consisting of manufacturing and dealing in agricultural tractors, from the product portfolio of the company with effect from March 31, 2024.

Sonalika launches Sikander DLX DI 60 Torque Plus multi-speed tractor at INR 8,49,999
New Delhi: India's leading tractor export brand, Sonalika Tractors has introduced its latest ‘Sikander DLX DI 60 Torque Plus multi-speed tractor’ at a company special price of INR 8,49,999 (ex-showroom).