CMV360 Weekly Wrap-Up | That Mattered This Week (2nd Oct – 07th Oct): M&M Announces a Five-Year Policy to Assist Female Employees in Their Motherhood Journey
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By Robin Kumar Attri
We hope this summary will provide you with valuable insights into the current state of commercial vehicles and the direction it is heading.
Welcome to the Cmv360 Weekly Wrap-Up, where we offer you the most recent commercial vehicle industry news and developments. Join us as we delve into the highlights and stories that have shaped the week, providing a concise overview of the most noteworthy happenings you need to know.
Check out this week's essential news on trucks, three-wheelers, tractors, new launches, and more. Stay tuned with us as we explore these and other automobile parts-related topics.
Escorts Kubota Faces Tough Times as Tractor Sales Declined by 11% in September 2023
Escorts Kubota, a leading tractor manufacturer in India, has reported a decline of 11% in tractor sales for the month of September 2023. Escorts Kubota Limited Agri Machinery business sold a total of 10,861 tractor units in September 2023, compared to 12,232 tractor units sold in September 2022.
Escorts Kubota, a joint venture between Escorts Limited and Kubota Corporation, has been a key player in the Indian tractor market, known for its reliable and innovative agricultural machinery.
Domestic tractor sales in September 2023 were 10,114 tractors, down from 11,384 in September 2022. The company's domestic tractor sales decreased by 11.2% in September 2023. In September 2023, Escorts Kubota exported 747 tractors, compared to 848 tractors in September 2022. In the export market, the company's tractor sales were down by 11.9% in September 2023.
M&M Tractor Sales Decline in Domestic Market by 11% in September 2023
Mahindra & Mahindra, one of the country's leading tractor manufacturers, has released its tractor sales report for September 2023. The company reported that it sold a total of 43,210 tractors in September 2023, marking a decline of 11% in sales compared to the same period last year. This fall in sales reflects the industry's complexity, with repercussions for both the company and the broader market.
Mahindra Domestic tractor sales were 42,034 units in September 2023, compared to 47,100 units in September 2022. Mahindra's domestic tractor sales show an 11% decline in sales.
Mahindra export tractor sales were 1,176 units in September 2023, compared to 1,613 units in September 2022. Mahindra's Export tractor sales have decreased by 27%.
VST Tillers Reports 10.42% Year-to-Date Sales Growth in September 2023
VST Tillers Tractors Ltd, a renowned player in the agricultural machinery industry, has released its sales report for September 2023, showcasing impressive figures. According to the sales report, the company sold 535 domestic tractors during September 2023, representing an 8.7% decline in sales as compared to the 586 tractors sold in September 2022.
In September 2023, the company sold 2,092 power tillers, compared to 2,070 in September 2022, representing sales figures increased by 1.06%. As a result, there has been an increase in power tillers sales, with a difference of 22 units of Power Tillers.
The company sold 535 tractors in September 2023, compared to 586 tractors in September 2022, representing a decline of 8.7% in tractor sales. As a result, there has been a decrease in tractor sales, with a difference of 51 units of tractors. The decline in sales is attributed to several factors, including unfavorable weather conditions.
M&M Announces a Five-Year Policy to Assist Female Employees in Their Motherhood Journey
Mahindra & Mahindra (M&M) has implemented a new policy to assist female employees in their maternity journey. Pre-childbirth (1 year), maternity (1 year), and post-maternity (3 years) are all covered under the policy.
The policy incorporates various innovative provisions, such as six months of flexible work and a 24-month hybrid work option from the base location for female employees following childbirth. The policy also permits female employees to travel with their child (up to the age of two years) and a caretaker for important work-related overnight domestic travel.
Mahindra Invests in Employee Development: 10 Employees Embark on Learning Journey in Japan
Mahindra's Farm Equipment Sector (FES) waved farewell to a group of ten talented workers who will embark on a transforming journey to Japan in an event of international cooperation and skill development.
Hemant Sikka, President of Mahindra & Mahindra Ltd.'s Farm Equipment Sector, and other corporate officials were present to give their best wishes and support to the departing workers. This step shows the Mahindra Farm Division, a division of Mahindra's Farm Equipment Sector, taking part in Japan's Technical Intern Training Program (TITP).
Technical Intern Training Program (TITP) was established in 1993. The major goal of TITP is to enable skills transfer and international cooperation by offering on-the-job training to people from developing nations. This initiative plays an important role in promoting human resource development and boosting economic growth in the regions it serves.
VST and ZETOR Collaborated to Introduce Cutting-Edge Farming Solutions in India
VST Tillers Tractors Ltd and HTC Investments, two well-known farm equipment manufacturers, have joined forces to manufacture new "best-in-class tractors" designed specifically for Indian farmers. This partnership, known as 'VST ZETOR Private Limited,' is likely to make changes in the agriculture industry.
The launch of 'VST ZETOR Private Limited' is expected to shake the agricultural industry. Indian farmers can look forward to a range of tractors equipped with advanced features and powered by robust engines. These tractors are designed to withstand the rigours of Indian farming conditions while offering ease of use and maintenance.
The initial launch will have three different types of tractors, the VST ZETOR 4211, VST ZETOR 4511, and VST ZETOR 5011, each with 40-50 HP. These tractors are the result of complex research, rigorous testing, and technology integration by VST and ZETOR.
Electric Three Wheeler Sales Surge in September 2023
Sales of electric three-wheelers increased by 12% in September 2023. September month has witnessed a significant surge in the sales of electric three-wheelers, with several leading manufacturers reporting impressive figures.
During the month, sales increased from 4,761 to 5,361 units, indicating a growing demand for environment-friendly transportation solutions. Growing concerns about air quality and environmental degradation have also influenced the shift towards electric three-wheelers.
In September 2023, Passenger E3W sales were 52,337 units, a 2.4% rise month on month, while cargo E3W sales were 5,107 units, a 9.6% reduction from the previous month. Overall, E3W sales increased by about 1.2% month over month.
Passenger E3W sales increased by roughly 56% year on year in September 2023, while cargo E3W sales increased by more than 90% compared to September 2022.
The Uttar Pradesh government is increasing its efforts to reach as many farmers as possible through the PM Kisan Samman Nidhi Yojana (PMKSNY), a prominent scheme for small and marginal farmers. The scheme offers an annual grant of Rs 6,000 to eligible farmers.
The state administration has now launched a new campaign to ensure that all eligible farmers are covered under the scheme by October 15. Several initiatives have been implemented by the agriculture department, including door-to-door surveys and the establishment of helpdesks at state agricultural seed facilities.
PM Kisan Samman Nidhi Yojana is a Central Government Scheme. It is totally funded by the Government of India. It became active on December 1, 2018. Every land-holding farmer household will receive income support of 6,000/- per year in three equal instalments of Rs. 2000 under the scheme.
Conclusion
That concludes our weekly wrap-up of commercial vehicle news. The past week has been filled with exciting developments, showcasing the industry's dedication to sustainability, efficiency, and innovation.We hope this summary has provided you with valuable insights into the market of commercial vehicles and the direction it is heading. Stay tuned for more updates, and until next week, drive safely!
Robin Kumar Attri is a content and video professional with 2.7 years of experience in the commercial vehicle d .....
