Credit crunch affects tractor market

The severe credit crunch in the market means that this festive season, farmers might think twice before making big ticket purchases like tractors, even though demand remains high. "It is a tough kind of situation in terms of marketing and it's true not only for our tractors, but all product categories. When the economy slows down, we are looking at marketing initiatives to see how we can do things," said Gautam Nagwekar, COO-Farm Equipment Sector, Mahindra & Mahindra.