Mahindra overtakes John Deere, becomes largest tractor manufacturer in the world
India’s largest utility vehicle manufacturer, Mahindra & Mahindra has now overtaken John Deere, the US based, largest manufacturer of agricultural machinery in the world, as far as tractor sales are concerned over the last two years. Mr Anand Mahindra, MD, Mahindra Group, said that this achievement was possible due to rise in demand from rural parts of India as well as penetration into China and other countries.
However, John Deere, maintains that they are still the largest tractor manufacturer as far as revenue is concerned. Mr Mahindra said, “M&M is a marathon runner. We have been counted out so often, we have been questioned so often about whether we are biting off more than we can chew, whether we have got too much on our plate. These questions I have been encountering for the last two decades.”
To strengthen its growth plans and presence in the global market, Mahindra and Mahindra has announced that it will be considering more international acquisitions in the near future. To further strengthen its Agri-business services Mahindra is eager on other major international acquisitions in the future.
The company has recently launched a $130 million center for innovation, called Mahindra Research Valley in Chennai to facilitate its varied needs and requirements for future growth plans. The Mahindra and Mahindra Group are India’s leading Tractor manufacturer and also the country’s leading manufacturer of sports utility vehicles (SUVs).
According to Group MD, Mr Anand Mahindra, the company would be looking at international acquisitions to enhance their vehicle portfolio and also further strengthen their dominance in Agri-business services. Currently total assets of Mahindra and Mahindra are estimated at over U.S $ 12.5 billion. With international acquisitions likely to take place in the near future, analysts believe the net worth of the company will increase at a rapid pace.