CHENNAI: Post-acquisition of the tractor business of Eicher, Tractors and Farm Equipment Ltd. (TAFE) has become the market leader by selling a record 7,663 tractors in March 2006 and garnering a share of 24.1 per cent.

TAFE, an Amalgamations group company, acquired the tractor business of Eicher in June last year.

In March 2005, TAFE had a share of 13.7 per cent and Eicher 7.4 per cent in the tractor market. They together held a market share of 21.1 per cent in March 2005.

The market share post-acquisition has risen to 24.1 per cent in March 2005, says a release from the company.

For the year ended March 31, 2006, TAFE had sold 66,667 tractors, up from 33,448 vehicles in the previous year. Since the 2005-06 figures comprise sales of Eicher brands as well, they are not strictly comparable with the previous year's numbers. TAFE had shown a significant growth in market share during 2005-06 to an estimated 23 per cent, said the release.

In 2004-05, TAFE and Eicher (when they were independent entities) had a combined market share of 21.31 per cent.

"The seamless integration of Eicher's tractor business in a short period has begun paying off in terms of anticipated synergy benefits,'' the release quoted Mallika Srinivasan, Director of TAFE, as saying.

"A total of six new products under the MF, Eicher and TAFE brands were released in a short span of time and have been received well in the market,'' she added.

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