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Thursday, July 18, 2024

Sonalika marches ahead in FY’24 to record 10,683 overall tractor sales in July’23 with 14% domestic growth beating industry growth (est. 6.4%)

New Delhi, 3rd August’23:With the new record achievement, Sonalika Tractors has also surpassed 50,000 cumulative tractor sales mark in just 4 months (Apr-July’23) of FY’24. 

India’s No. 1 tractor export brand, Sonalika Tractors has been consistently assuring a progressive future for all farmers with its heavy duty tractors and marching ahead in the financial year 2023-24. The company has recorded an overall sales of 10,683 tractors in July’23 which includes 14% domestic growth and has beaten industry growth (est. 6.4%). The staggering performance has validated that Sonalika’s innovation powered approach is on the right track towards cultivating a sustainable farmer growth in the diversified Indian agri market. With this, Sonalika has also surpassed 50,000 cumulative tractor sales mark in 4 months of FY’24 (Apr-July’23).

Small and marginal farmers constitute around 86% in India, who generally possess small land holdings and limited resource availability as well as awareness for farm mechanisation. Due to this, the overall mechanisation in agriculture stands at 47%, much lower than countries like United States (95%), Brazil (75%) and China (59.5%). Sonalika Tractors has been supporting the entire farmer fraternity to adopt farm mechanisation as it rolls out the widest, heavy duty tractors range in 20-120 HP. The technologically advanced tractors are designed to steer farmers through all farm complexities comfortably. The company has already been showcasing its entire tractor price range on the official website for transparency in the tractor buying process. The initiative has not just eased up farmer’s lives, but also increased their trust in the brand. 

Sharing his views on the new achievement, Mr Raman Mittal, Joint Managing Director, International Tractors Limited, said, “We are delighted to have farmer’s admiration for our heavy duty tractor range that has enabled us to record 10,683 overall tractor sales in July’23. With 14% domestic growth, we have beaten industry growth (est. 6.4%) and powered past 50,000 cumulative tractor sales mark in just 4 months (Apr-July’23). Receiving such love for our brand inspires us to ‘be better than our best’ every time and rapidly customise advanced farm technologies as per regional needs of Indian farmers. Delivering farmer happiness is the core at ITL and the same will always remain as an integral part of every new innovation undertaken by us. Creating awareness and supporting adoption of farm mechanisation is our top priority as it will help farmers progress faster towards prosperity.”

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