Mahindra's Tractor Market Share in the US Rises
16 Apr 2013
FY-2013 –Red Letter Year for Mahindra USA with highest ever:
April 16, 2013, Mumbai: The financial year 2013 truly signaled the ‘Rise of Red’ for Mahindra USA (MUSA), a part of the USD 15.9 billion Mahindra Group, as the tractor manufacturer closed the fiscal year with record billings and record retail sales, gaining over 2% points, delivering its highest ever market share in the US.
The company was ranked No. 2 in the 2013 North American Equipment Dealers Association (NAEDA) Annual Dealer / Manufacturer Relations Survey for Overall Satisfaction, indicating a high degree of customer satisfaction. NAEDA is the apex dealer association in the USA. MUSA is also the No. 3 tractor manufacturer in the USA in the Under 80 HP category.
“I am delighted at the stellar performance shown by MUSA during the previous fiscal year. This success can be attributed to their innovative and aggressive marketing and sales strategies which have allowed Mahindra to increase its presence in the highly competitive US market, where we compete against other global tractor companies. I am confident that MUSA will continue on its growth path during the current fiscal year as well.” said Dr. Pawan Goenka, President, Automotive & Farm Equipment Sectors, Mahindra & Mahindra Ltd.
“My heartiest congratulations to the entire MUSA team, who have worked very hard to achieve this excellent performance despite challenging market conditions and increased competition in the US market. A series of dealer and customer-centric initiatives have helped MUSA sales cross the 10,000 tractor benchmark for two consecutive years, marking an inflection point for the company in the US market. This momentum is set to continue during F-2014, on the back of more initiatives from MUSA,” said Ruzbeh Irani, Chief Executive - International Operations Automotive and Farm Equipment Sectors & Member of the Group Executive Board.
In FY-2013, MUSA opened its Northeast Authorized Distribution Center to serve and support the Northeast USA and Canada and launched mCRD (Mahindra Common Rail Diesel) Tier IV powered tractor models and mFORCE and mPOWER higher horsepower tractor models. The company also focused on more efficient and effective brand building with increased investment in advertising and the roll out of Regional Brand Manager (RBM) sales and marketing support.
In addition to strong financials, MUSA also has several other accomplishments, achievements and industry accolades to its credit in FY-2013. Cleo Franklin, Vice President, Marketing, Product Development and Strategic Planning, hosted the Confederation of Indian Industry (CII) India Business Forum on Capitol Hill, in Washington DC, while Mani Iyer, President, Mahindra USA, attended the CII Governor’s Reception in Washington DC, as a recognized member of influential Indian companies operating in the United States. The company received the American Marketing Association (AMA) Website of the Year (B2C) Crystal Award and is now also a Business School case study for Dartmouth University’s Tuck School of Business.
MUSA entered the US market in 1994 and has since built an exceptional reputation and loyal customer base with its range of tractors from 18 HP – 83 HP which cater to farms of all sizes. The company has also made a concerted effort to integrate itself within the communities that it serves. It was the first Indian brand to sponsor a racecar in the 2009 NASCAR* Nationwide Racing Series in the USA and the NASCAR Canadian Tire Series in Canada.
* National Association for Stock Car Auto Racing (NASCAR)
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 15.9 billion multinational group based in Mumbai, India, Mahindra employs more than 155,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheeler industries.
In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. In 2013, the Mahindra Group received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category.
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Mahindra & Mahindra Ltd.
Phone: +91 22 2490 1441