Ferrari tractors sold out in just 8 weeks
Launched earlier this year for a starting price of Rs 8 lakh, the latest of Ferrari Tractors have become quite a hit among farmers in India. Costing twice as much as a regular tractor, the reason Ferrari tractors have been sold out is due to the high returns due to better use of technology and more savings financially.
Ferrari tractor has the highest power to weight ratio which permits intricate farming activities with the added advantage of having the highest fuel efficiency. Ferrari tractors were introduced into India in July this year with stocks sold out in the first 8 weeks of debut. This is what has prompted the company to plan a local assembly plant so as to take advantage of this demand.
Luxury tractors form just a fraction of the 6 lakh tractors sold in India each year. Price is a major deterrent as regular tractors are priced in a price range of INR 2 to INR 6 lakhs while the luxury tractors are priced from INR 8 to INR 14 lakhs. States like Punjab, Uttar Pradesh and Andhra Pradesh have seen more demand.