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Mahindra Tractor Prices In Karnataka Goes Up
It is not just car manufacturers that have announced their decision to hike prices from this year. Mahindra & Mahindra Ltd.'s Farm Equipment Sector (FES), part of the Mahindra Group, has also announced its decision to increase prices of tractors.
Also Read: Lamborghini Tractors In India - Images
Mahindra tractors in the state of Karnataka now cost 1 percent more than they used to do until last year. This translates to a price hike in the range of Rs 4,000 to Rs 4,500 which came into effect from Jan 1, 2014. The reason for the price hike is the same. That's higher input costs. resulting from rupee depreciation.
Mahindra Farm Equipment Sector is the largest tractor manufacturer in India, which is also the largest tractor market in the world. The company is also among the largest in the world in terms of sales. Outside India, Mahindra sells its tractors across six continents, but has a strong presence in the United States and is growing fast in China and Australia.
To raise awareness about its presence in the country, Mahindra USA sponsored a NASCAR racing team, R3 Motorsports. Thus, becoming the first Indian company to sponsor a NASCAR team.
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