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.