Sonalika continues to outperform domestic industry in June’24 to clock best ever Q1 performance; achieves highest ever Q1 overall sales of 41,465 tractors and highest ever overall market share of 14.4% (est.)
New Delhi, 4th July 2024: India’s No. 1 tractor export brand Sonalika Tractors is committed to deliver ‘Quality in India’ with its powerful yet fuel efficient tractors and is excited to have created a new historic milestone in Q1 FY ’25. The company has clocked its best ever Q1 overall sales of 41,465 tractors and highest ever overall market share of 14.4% (est.) as well as recorded 2X growth over industry performance.
With its quality-focussed approach, the company has also achieved its best ever June performance in domestic market with 14,062 tractor sales. This includes sales growth of 16.6% and market share gain of 1.4 percentile points, which is highest among all tractor brands. The company sold 12,056 tractors in domestic market in June’23. As agri-tech solutions continue to be more and more farmers centric, the “Pride of India” Sonalika has facilitated countless farmers to leverage superior power and robust quality in its heavy duty tractors for higher farm output.
Sharing his thoughts on the record performance, Mr. Raman Mittal, Joint Managing Director, International Tractors Limited, said, ‘We are elated to achieve our best ever Q1 performance in FY ’25 with the highest ever overall sales of 41,465 tractors and highest ever Q1 overall market share of 14.4% (est.) as well as recorded 2X growth over industry performance. This is powered by a staggering June’24 domestic market performance of 14,062 tractor sales, marking a record sales growth of 16.6% and market share gain of 1.4% percentile points, both being the highest among all the tractor brands.
Early arrival of the monsoon in India has brought in positive sentiments in the Indian agri sector as Kharif acreage has picked up by over 30% in FY’25. La Nina conditions are likely to pick up pace in the second half of the monsoons and should cover up the on-going deficiency in the monsoon precipitation. Sonalika takes pride in being among frontrunners that boost agricultural development in India with our disciplined and qualitative approach. Our teams collaborate effectively to brainstorm, design and develop new farm-tech machinery that makes farming more sustainable and are more than keen to play a leading role in the overall progress of our farmers.”
