Product details

By continuing to use our site you consent to the use of cookies as described in our privacy policy unless you have disabled them.
You can change your cookie settings at any time but parts of our site will not function correctly without them.

Abstract

India witnessed a colossal boom in luxury tractor in the year 2011. Many local and global brands tried to leverage on this growth momentum. Mahindra and Mahindra was the first company to launch Arjun International, a premium tractor on Indian roads. Taking a cue, Escorts Company, the third largest producer of tractors, was also planning to introduce its tractor, Ferrari (a brand of racing car), in the Indian market. The tractor was launched with an initial price of INR0.8 million and had features like equal sized wheels, machine moving back and forth system, in-front machine for low turning radius and so on. In India, the farmers in the states of Punjab and Haryana had large land holdings and formed huge consumer base for the tractors. However, analysts were skeptical whether Ferrari tractors would tap the above segment, since it was observed that these tractors did not serve any utility value as these states had alluvial soil which did not require deep tilling. Moreover, the tractors were meant only for vineyards and fruit orchards, but the regions of Punjab and Haryana were mainly producing wheat and other food grains. Against this backdrop, it remained to be seen whether Ferrari would script its success story in India.
Location:
Industry:
Other setting(s):
2014

About

Abstract

India witnessed a colossal boom in luxury tractor in the year 2011. Many local and global brands tried to leverage on this growth momentum. Mahindra and Mahindra was the first company to launch Arjun International, a premium tractor on Indian roads. Taking a cue, Escorts Company, the third largest producer of tractors, was also planning to introduce its tractor, Ferrari (a brand of racing car), in the Indian market. The tractor was launched with an initial price of INR0.8 million and had features like equal sized wheels, machine moving back and forth system, in-front machine for low turning radius and so on. In India, the farmers in the states of Punjab and Haryana had large land holdings and formed huge consumer base for the tractors. However, analysts were skeptical whether Ferrari tractors would tap the above segment, since it was observed that these tractors did not serve any utility value as these states had alluvial soil which did not require deep tilling. Moreover, the tractors were meant only for vineyards and fruit orchards, but the regions of Punjab and Haryana were mainly producing wheat and other food grains. Against this backdrop, it remained to be seen whether Ferrari would script its success story in India.

Settings

Location:
Industry:
Other setting(s):
2014

Related