01 August, 2020
Since the lockdown was eased, tractor sales have grown on the back of pent-up demand, robust rabi harvest, improved kharif sowing backed by good monsoon, increased government spending and healthy water levels in the reservoirs.
India's one of the leading tractor manufacturer and number one Export brand from the country, Sonalika Tractor in July'20 records highest-ever domestic growth of 71.7 per cent and overall (Domestic+Exports) 10,223 tractors sale.
Domestic sales stood at 8219 tractors compared to 4788 sales the same period last year. The company continues to be on growth trajectory beating industry growth.
"Happy to share that we have recorded highest ever domestic growth of 71.7 per cent in July'20 beating industry growth with overall sales at 10,223 tractors. This consistent performance, creating new record high and gaining market share is a testimony of our strong foundation and investment in world's number one vertical integrated plant, largest channel partners, technology savvy supply chain and best team. We have launched new tractors with advanced technology features at the same cost of current products, thus helping the farmers to upgrade and enhance their productivity and income," said Raman Mittal, Executive Director, Sonalika Group, while speaking on the performance.
"Our cumulative domestic growth (April-Jul) is at 17.7 percent, which is highest in the entire tractor industry. This superlative performance is resultant of our strategy to continue launching new tractors customized to meet various geographic and application specific requirements of the farmers across globe. We have been consistently growing amidst the prevailing situation with 25 per cent growth (deliveries) in May'20 and 55 per cent growth (Billing) in June'20 and 71.7 per cent growth (Billing) in July'20. We look forward to the uptick in demand and continue our growth momentum by surpassing industry growth in the forthcoming festive season as well," he added.
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