Force Motors Announcement:
India’s Force Motors said it will close its agricultural tractors business and related activities on Friday, March 31.
The company’s closure is because they just want to focus on the core segment of the company, such as shared mobility transportation.
Introduction to Force Motors:
Force Motors Ltd is an Indian multinational automotive manufacturing company, based in Pune and was founded in 1957 by N.K. Firodia.
Force is an Indian Larger Van Maker Company. The company also exports to various countries in Africa, Latin America, SAARC and ASEAN countries, Gulf and Germany.
The company is known for its multi-seater passenger vehicles and also makes engines for BMW and Mercedes cars in India.
Force Motors also makes agricultural Vehicles (tractors) Like Balwan tractors, Orchard tractors, Sanman Tractors, and Abhiman Tractors, and now they have decided to close the agricultural division in India.
Finance of the company:
The tractor Segment contributed a total of 3.66 percent to the overall revenue in FY2023. This was modest in terms of revenue impact.
The withdrawal of the force motors from the Agricultural tractor market will be very beneficial for all the competitors.
A significant portion of its revenue is from vehicle sales, comprising approximately 48 percent. Contract engine manufacturing contributes to about 36 percent of its total revenue, according to the company’s latest annual report.
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