Tractor manufacturer Sonalika International Tractors Ltd has posted global sales (domestic + exports) of 25,002 units, a 17.6 % growth over the same quarter last year, according to a company statement.
Due to this Sonalika ITL has recorded its highest-ever domestic quarterly sales of 22165 units, against 18725 units for the same period last year, a growth of 18.4%, claims the company.
During June, the company’s domestic sales touched 8,379 units registering a growth of 10.3 per cent over last year, while exports stood at 907 units. This breakthrough in sales have led to increase in the overall market share to 13 percent.
Raman Mittal, Executive Director, Sonalika ITL, said, "Our domestic sale volumes were strengthened by a healthy monsoon this year, increasing awareness of mechanisation in increasing yield, and recent waiver on farm loans."
Sonalika continues its stronghold as India’s third largest tractor maker, ranking ahead of industry players like Escorts (by 7,441 units), John Deere (by 8,510 units) and Case New Holland by 17,073 units, at the end of FY18 Q1.
The tractor maker has a capacity to produce 3 lakh units per annum and has 7 lakh customers over two decades.