Swaraj Tractors, a prominent player in the Indian tractor market and a subsidiary of the esteemed Mahindra Group, is set to conquer the fastest-growing horticulture sector with its newly launched range of 20-30 horsepower tractors under Target. These powerful machines will be available in Maharashtra and Karnataka through Swaraj's extensive dealer network, starting from Rs 5.35 lakh ex-showroom.
Furthermore, Swaraj Tractors is undergoing a significant product revamp, introducing the Target series and planning to launch five new platforms, including electric and autonomous tractors. In addition, the company is setting up its third manufacturing facility, which will be operational in the coming quarters.
Hemant Sikka, President of Farm Equipment Business at Mahindra & Mahindra, affirms Swaraj's remarkable growth in the past decade. Introducing the new tractor range aims to sustain this success and expand their market share.
Sikka mentioned, "It is a white space for us, so this new range of tractors will bring in incremental sales. While India is a large cereal-consuming nation, the horticulture space has been significantly outpacing the market. With the crop area of just 18%, horticulture accounts for 30% of agri-GDP, it is a very important segment that Swaraj aims to participate in with new products,".
Swaraj Tractors introduces a new range of compact, lightweight tractors designed based on feedback from 1,500 prospective buyers. With their narrow track width and low turning radius, these tractors enhance manoeuvrability, increasing productivity while minimizing crop damage. Excitingly, former Indian Cricket Team Captain Mahender Singh Dhoni has been utilizing Swaraj Tractors on his 40 acres farm in Ranchi. As a result, Dhoni may become the brand ambassador for Swaraj in the near future.
Swaraj Tractors is set to enter the market by introducing two models in the 25 and 29 HP categories under the Swaraj Target range. The 20-30 HP segment, where these models belong, witnesses an impressive annual sale of around 50,000 units.
Swaraj Tractors is set to expand its reach with the Swaraj Target 630 model, available through its dealer network in Maharashtra and Karnataka at a competitive starting price of Rs 5.35 lakh ex-showroom. The market introduction of the Swaraj Target 625 has already been successfully executed.
With a strong performance in FY-23, Swaraj Tractors achieved a remarkable growth rate of over 23%, selling 1.28 lakh units and increasing its market share by 189 basis points to 15.55%.
Capitalizing on the thriving 20-30 horsepower range, Swaraj aims to secure a 27-30% market share in this segment, outperforming the overall tractor market's 6% compounded annual growth rate.
"Swaraj has a core DNA of power and dependability, we need to inject some more modernity and make the brand more aspirational. We need to see how the farming segment is evolving and we will cater to their needs. Newer, younger people are coming into farming, newer professionals are getting into farming during covid." added Rajesh Jejurikar, ED and CEO of the Automotive and Farm Equipment Sector at Mahindra & Mahindra.
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