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Mumbai: The Indian tractor industry in 2008-09 is unlikely to register growth and sales are likely to be at three lakh tractors, same as what was achieved in 2007-08, a top industry official said in Mumbai on Thursday.
"This year is likely to be at best like last year. The first half year witnessed growth and the second half year witnessed degrowth," Mahindra's Farm Equipment Sector President A Choudhari said.
Mahindra sold 92,000 tractors last year in the domestic market and exported 8,000.
The company in December brought down its tractor production due to falling demand. It would wait for two or three weeks and decide on the future course of action, he said.
"We will review our decision after one or two weeks," he said.
Inventories are at a comfortable level now, he said.
"We have brought it down to satisfactory levels," he said.
Mahindra in December said in line with the suppressed market demand for tractors and taking into account the inventory, it has made necessary adjustments to moderate its manufacturing activities at its plants at Kandivali (Mumbai), Nagpur and Rudrapur (Uttarakhand).
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