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Escorts plans to make Ferrari tractors in India

Co looking to roll out premium products in the European markets.

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You can expect Ferrari tractors to come out in a fully desi avatar — Escorts intends to indigenise the manufacturing of such tractors in days to come.

“Our team is in talks with Ferrari for producing tractors. We will be indigenously manufacturing the products in India,” said Nikhil Nanda, managing director, Escorts Limited. He, however, did not share details and timeline for it.

“We have met all the targets for selling Ferrari tractors in India and we are looking at increasing the volume next year,” he said.

Escorts in February hit it off with the Italian brand with a partnership deal to distribute and sell the flagship Ferrari brand of tractors in India. The brand, generally associated with high-end sports cars, is also one of the top selling names for specialised tractors. 

The company had initially in sight a sales figure of 50-77 units of Ferrari tractors this year. Priced at Rs 8 lakh, the entry-level 30 horsepower (hp) tractor is almost twice expensive than usual tractors in the same category.

The Ferrari tractors, which are currently imported by Escorts, are suited for niche applications like vineyards and orchards. Experts feel that though the volume for such tractors is low, the demand is picking up. The bigger tractors (above 50 hp) are fast gaining traction and are expected to grow at about 22-25% in the next 5-7 years. The segment as a whole is rising at a clip of about 11-12%, according to industry data.

Escorts currently is in the process of widening its portfolio in the premium tractor category. It’s a leading player in the 50 hp and above segment in India.

The tractor manufacturer looks to roll out such products for European markets this year.

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