Tractor dispatches to see 4-7 pc growth in FY26
PTI
New Delhi, Jul 29 (PTI) Tractor dispatches from companies to dealers are expected to grow at a moderate pace of 4-7 per cent in the current fiscal, as per rating agency Icra.
The domestic industry saw volumes grow by 10.5 per cent year-on-year in June this year and 9.3 per cent in the April-June quarter compared with the same period last year.
'Going forward, wholesale volumes are estimated to grow at a moderate pace of 4-7 per cent in FY2026. The projected growth is likely to be supported by above-normal monsoons, which are expected to boost agricultural production across key regions," Icra said in a statement.
The rating agency said that despite global macroeconomic headwinds, commodity costs have eased, driven by a slowdown in global demand and a correction in Chinese steel prices.
This trend is likely to support margins of original equipment manufacturers (OEMs), it added.
As a result, the credit profile of tractor manufacturers is expected to remain healthy, backed by rising volumes, low debt, and adequate cash and liquid investments, Icra said. PTI MSS MSS SHW
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
7 minutes ago
- Hindustan Times
Air India cancels Singapore-Chennai flight due to technical issue
New Delhi, Aug 3 (PTI) Air India on Sunday cancelled its flight from Singapore to Chennai due to a technical issue. In recent days, some of the Air India planes have faced technical snags.(File/Reuters) The flight AI349 was to be operated with an Airbus A321. In a statement on Sunday, the airline said the flight AI349 scheduled to operate from Singapore to Chennai has been cancelled due to a maintenance task identified prior to departure which required additional time for rectification. "Arrangements are being made to fly the passengers to Chennai at the earliest. Hotel accommodation is being provided, and full refunds on cancellation, or complimentary rescheduling is also being offered to passengers based on their preference," Air India said. According to the airline, ground colleagues in Singapore are making every possible effort to minimise the inconvenience caused to the passengers due to this unforeseen disruption. In recent days, some of the Air India planes have faced technical snags.
News18
31 minutes ago
- News18
Piaggio expects L5 electric 3-wheeler penetration to reach 50pc by mid-2028
Mumbai, Aug 3 (PTI) Small commercial vehicle maker Piaggio Vehicles is expecting L5 electric three-wheeler segment penetration in the domestic market reaching 50 per cent at the most by mid-2028, owing to a structural shift and other factors, a top company official has said. The company, which last month rolled out two new electric passenger three-wheelers — the all-new Ape E-City Ultra and upgraded Ape FX Maxx- also said there is a need for the government to provide clarity on the issue of continuation of the incentives. Piaggio Commercial Vehicles Pvt Ltd (PVPL) is the Indian subsidiary of Italian auto major Piaggio Group. 'There is a spike in the penetration of L5 category electric three wheelers in the country in the last one-and-a-half years. And this is when the government incentives under the FAME program have reduced to one-fourth in the same period," Diego Graffy, Chairman and Managing Director of PVPL, told PTI in an interaction. He said that if the level of penetration continues at this pace, 'we expect this to reach 50 per cent by the end of 2027 or the beginning of mid-2028 even if the incentives are withdrawn, as there is a structural shift taking place in the market." There are two categories– L5 and L3– in the electric three-wheeler segment. L5 Category refers to three-wheeler auto-rickshaws for carrying passengers or cargo while e-carts fall in L3 category. The second phase of the government's flagship scheme, Faster Adoption and Manufacturing of Electric Vehicles (FAME), launched in 2019 with an initial outlay of Rs 10,000 crore, later increased to Rs 11,500 crore, ended in March last year. Subsequently, a new PM E-Drive Scheme with an outlay of Rs 10,900 crore for two years to boost EV sales, replacing FAME programme was announced in September 2024. 'The Government reducing the subsidy to one-fourth in the last one-and-a-half years could have definitely been a big disruption (in terms of demand) but instead of depressing the market, it has only kept on increasing. It means that the change or the shift that is happening now is structural and not anymore incidental. And this shift is happening for multiple reasons," Graffy said. Apart from the structural shift, the factors for the higher penetration include improved charging infra, lower cost of acquisition and ease of financing and servicing. 'These challenges have largely been addressed in this period leading to increased penetration, particularly of the passenger segment," he said. According to industry statistics, L5 passenger electric three-wheeler penetration accounted for 22.8 per cent in the total EV sales in FY 25 while the goods e-three-wheeler penetartion stood at 21.5 per cent in the same period. Also, in the April-June quarter of this fiscal, as much as 32.4 per cent of the total ev penetration was recorded in the passenger e-three wheeler segment and 22.8 per cent in the cargo e-three-wheeler segment. Graffy said that the adoption rate across Southern and Western parts of the country however, is still much lower, adding that, it is expected to increase in the next couple of years and when it happens, the overall penetration rate would go much higher than 50 per cent." He said that the e-commerce transition was leading to the demand for cargo e-three-wheelers, which is on the wane now while the passenger segment is picking up very rapidly due to the reason cited earlier. Due to a structural transition that we see, now the passenger segment will have a much higher rate of adoption in the next few months, he stated. He said that Piaggio Vehicles is 'maintaining" more or less the pace at which the industry is growing, adding that the company keeps on renewing its product portfolio every two years since 2019 when it first introduced its e-three-wheeler in the country. 'We are not doing (renewing products) so frequently unlike many other players are doing in the space. We prefer to take our time. So, we are reviving our products every two years trying to introduce new features with innovation and technology," he said. 'We believe EVs are an opportunity to reshape urban transport and improve livelihoods. New Apé E-City Ultra and Apé E-City FX Maxx are being built with these realities in mind. They deliver what the Indian customer needs: best in class range, low battery degradation, strong performance, and minimal operating costs," Graffy said on the launch of the two models, which are priced at Rs 3.80-lakh and Rs 3.30 lakh, respectively. top videos View all 'These vehicles are enablers of economic mobility, future-ready solutions that can scale across cities and small towns alike. Our focus is not only on innovation but also on contributing to a more inclusive and sustainable future," he said. On the incentives, he said," uncertainty on (the continuation) of the incentives is definitely very disturbing and some clarity going forward is required." 'Even if the government wants the incentives to discontinue from a particular date, declare it clearly so that every OEM can plan the strategy accordingly," Graffy said. PTI IAS MR MR (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 03, 2025, 20:00 IST News agency-feeds Piaggio expects L5 electric 3-wheeler penetration to reach 50pc by mid-2028 Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hindustan Times
37 minutes ago
- Hindustan Times
'India NOT reviewing list of US goods exempted from tariffs': MEA debunks fake reports
Amid the tariff row between the United States and India, the Ministry of External Affairs has debunked certain fake reports circulating on social media. Taking to X, the fact check unit of the ministry has dismissed reports that India is reviewing US goods exempted from tariffs as it works towards a response to Trump's 25 percent bombshell on New Delhi. US president Donald Trump announced 25 percent tariffs on "good friend" India last week. The tariffs for India come with a penalty due to its participation in BRICS and trade with Russia,(PTI) In another post, the fact check unit for MEA dismissed a report which claimed that India is reviewing its bilateral agreements with the United States and considering suspending them 'if hostile economic policies continue.' This is a developing story…
