Force Motors to shut down its agricultural tractors business

Daily Current Affairs / Force Motors to shut down its agricultural tractors business

Change Language English Hindi

Category : Business and economics Published on: April 02 2024

Share on facebook

Force Motors has announced the closure of its agricultural tractor business and related activities effective from March 31 as part of its product rationalization program.
The decision is aligned with the company's strategy to focus primarily on core segments such as shared mobility transportation, last-mile mobility, and manufacturing of high-technology critical aggregates for luxury OEMs, among others.
Despite contributing 3.66% to the company's total revenue for the financial year ended March 31, 2023, the sale of agricultural tractors has been discontinued due to the challenging market conditions, with tractor sales witnessing pressure in the industry.

Lt. Gen. Pushpendra Singh to take over as Vice Chief of Army Staff on Friday.
Read More....
Shubman Gill becomes highest run-scorer as Indian Test captain in a single series with 743 runs.
Read More....
From August 1, PSBs allowed to transfer unclaimed assets to IEPF under amended Banking Laws.
Read More....
Cabinet approves four multi-tracking railway projects worth ₹11,169 crore across six states.
Read More....
DPIIT signs MoU with Roche India to support healthcare startups in critical therapeutic areas.
Read More....
Eminent economist and author Lord Meghnad Desai passes away at age 85.
Read More....
ISRO scientist A. Rajarajan appointed Director of Vikram Sarabhai Space Centre from August 1.
Read More....
Khalid Jamil becomes first Indian in 13 years to be appointed head coach of Indian men's football team.
Read More....
Indian Navy receives third Project 17A stealth frigate ‘Himgiri’ from GRSE, Kolkata.
Read More....
World Breastfeeding Week 2025 to be observed from August 1 to 7 with focus on healthcare system support.
Read More....

Force Motors to shut down its agricultural tractors business