The company is planning to expand its dealer network to 800 from the current 500 over the next two years.
06 Feb 2025 | 17923 Views | By Kiran Murali and Yukta Mudgal
Global agriculture and construction equipment major CNH Industrial has set a target to double the market share of its New Holland brand in India’s tractor market by the end of this decade, according to a senior company official.
The company is planning to leverage the robust market demand expected ...
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Global agriculture and construction equipment major CNH Industrial has set a target to double the market share of its New Holland brand in India’s tractor market by the end of this decade, according to a senior company official.
The company is planning to leverage the robust market demand expected going forward while expanding its product portfolio and dealer network.
“Our idea is to double our market share in the next five years,” CNH India President and Managing Director Narinder Mittal told reporters on Thursday.
He noted that the focus on improving New Holland’s brand awareness, increasing the network and robust product line-up would result in higher market share, regardless of how the industry performs.
In India, CNH manufactures and sells tractors under the New Holland brand. It also manufactures farm equipment as well case construction equipment under the CASE brand.
New Holland offers tractors ranging from 20 to 110 horsepower, besides harvesting solutions such as combine and sugarcane harvesters, crop residue management, and farm mechanisation solutions.
In 2024, New Holland had a tractor market share of 4.1%. It sold around 37,000 tractors in the domestic market while exporting approximately 10,000 tractors.
India’s tractor industry sold 9.02 lakh units last year, which represents a decline of 1.5% from 2023. Mahindra & Mahindra, International Tractors Ltd (Sonalika) and TAFE are major players.
OEMs have highlighted the visibility of green shoots in the industry on the back of surplus rainfall, reservoir level, growth in kharif output, hike in MSP and higher government spending on rural development.
CNH currently has around 500 dealers for New Holland tractors. The company plans to expand it to 800 over the next two years as it looks to penetrate further in India while increasing its presence across the country.
In 2024, CNH India’s turnover was around Rs 7,500 crore. Tractors account for around 65% of the business.
On the production front, CNH has the capacity to manufacture 70,000 tractors per year across the two plants in Noida and Pune. The company is looking to increase the capacity to 1 lakh units.
CNH has positioned India as the hub for its global business as it looks to manufacture for exports as well while leveraging the scale in the Indian market.