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.

Axis Bank re-appoints Amitabh Chaudhry as MD & CEO for an additional three-year term.
Read More....
The commencement of the first-ever Hindi radio broadcast in Kuwait fosters stronger ties between the two nations.
Read More....
Yuvraj Singh appointed as the ambassador for the ICC Men's T20 World Cup 2024.
Read More....
The Indian government permits the export of 99,150 metric tons of onions to six countries, including Bangladesh, UAE, Bhutan, Bahrain, Mauritius, and Sri Lanka.
Read More....
Yakshagana maestro Subrahmanya Dhareshwar, aged 67, passes away.
Read More....
Arun Alagappan assumes the role of Executive Chairman at Coromandel International Ltd., marking a significant appointment in the company's leadership.
Read More....
The government has approved a one-year extension for T. Rabi Sankar as Deputy Governor of the Reserve Bank of India.
Read More....
Sana Mir appointed as the ambassador of the ICC Women's T20 World Cup Qualifier, highlighting her influential role in promoting women's cricket globally.
Read More....
The Indian Air Force conducts its inaugural Investiture Ceremony at the National War Memorial Complex, marking a historic event in its traditions.
Read More....
The Reserve Bank of India initiates an open-on-tap licensing process for Small Finance Banks (SFBs), aiming to facilitate the establishment of more such banks in the country.
Read More....

Force Motors to shut down its agricultural tractors business