Force Motors decided to close tractor business

Utkarsh Classes Last Updated 30-03-2024

Force Motors decided to close tractor business

Agriculture 3 min read

India's Force Motors has informed on March 29, 2024 that it has decided to close its agricultural tractor business and related activities from March 31.

Part of Force Motors' Product Rationalization Programme:

According to Force Motors Company, the closure of the business is part of the company's product rationalization programme. Under this, Force Motors will focus on its core areas of business. Which mainly includes shared mobility transportation, last mile mobility and manufacturing of specialized vehicles for civil and defense applications.

Agricultural tractor sales 3.66% of Force Motors:

According to Force Motors, sales of agricultural tractors accounted for 3.66% of the company's total revenue in fiscal year 2023.

Figures from the last annual report of Force Motors:

Force Motors company, known for its multi-seater passenger vehicles. Force Motors also manufactures engines for BMW and Mercedes cars in India. It earns about 48% of its revenue from vehicle sales, while about 36% of the revenue comes from contract engine manufacturing.
Force Motors has reported a fourth consecutive quarter of profit in the October-December period. For Force Motors, the uptick in economic activity following the Covid pandemic has helped the Maharashtra-based company turn profitable.

About Force Motors:

Force Motors is an Indian automobile company. It was founded in 1958 by NK Firodia. Force Motors is engaged in the manufacturing of small commercial vehicles. Which mainly includes:
- Small commercial vehicle
- Multi-Utility Vehicle
- Light commercial vehicle
- Sports utility vehicle
Known for making agricultural tractors.
Force Motors was known as Bajaj Tempo before May 2005.
The Chennai-based manufacturing unit of Force Motors was established in the year 2015. Engines for SUVs and BMW cars are manufactured at the Force Motors Chennai plant.
Force Motors has many cars available for sale in India. This company has launched a total of 2 models in India.
Force Motors is preparing to launch 1 new model soon. Force Motors cars available for sale in India include 1 SUV car.