Force Motors announced its decision to discontinue its agricultural tractors business, effective March 31, as part of its product rationalization strategy. The move aims to redirect resources towards core segments like shared mobility transportation and special vehicles for civil and defence applications.
In FY 2023, agricultural tractors sales contributed 3.66% to Force Motors’ total revenue. The company, renowned for its multi-seater passenger vehicles and engine manufacturing for BMW and Mercedes cars in India, derives 48% of its revenue from vehicle sales and 36% from contract engine manufacturing.
Despite challenges, Force Motors reported profitability for the fourth consecutive quarter in October-December, benefiting from post-pandemic economic recovery. With a focus on strategic realignment, the Maharashtra-based company aims to strengthen its position in key sectors while ensuring sustained growth and profitability.
