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HomePosts Tagged "International Tractors Limited"
Agribusiness, Farm Mechanisation, Finance, India, Machinery - Pre-harvesting

The company sold 14,062 tractors in the domestic market in June’24 which translates to sales growth of 16.6 per cent.

Sonalika Tractors, leading tractor export brand announced that the company has achieved a new historic milestone in Q1 FY ’25. The business achieved its best-ever Q1 total sales of 41,465 tractors, the highest-ever overall market share of 14.4 per cent (estimated) as well as recorded 2X growth over industry performance. The company sold 14,062 tractors in the domestic market in June’24 which translates to sales growth of 16.6 per cent and a market share gain of 1.4 percentile points, which is highest among all tractor brands.

Commenting on the brand’s record performance, 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 per cent (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 per cent and market share gain of 1.4% percentile points, both being the highest among all the tractor brands.”

Mittal also added that 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 per cent 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. 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.

The company sold 14,062 tractors in the

Agribusiness, Company News, Farm Mechanisation, Finance, India

This marked a substantial growth of 23 per cent compared to the same period in the previous year, where 10,464 tractors were sold.

India’s leading tractor manufacturer, Sonalika Tractors has announced that company has achieved a market share of 16.3 per cent in November’23, recording the highest overall growth of 23 per cent, surpassing industry growth estimates of 2 per cent.

This impressive accomplishment underscores the company’s commitment to delivering excellence in farming operations. The month of November2023, Sonalika Tractors reported robust overall sales, with the sale 12,891 tractors. This marked a substantial growth of 23 per cent compared to the same period in the previous year, where 10,464 tractors were sold. The company’s ability to surpass industry growth estimates of 2 per cent showcases its resilience and competitiveness in the market.

Sonalika Tractors has surpassed the 1 lakh tractor sales mark for the seventh consecutive year, spanning from FY’18 to FY’24. This consistent performance highlights the brand’s enduring popularity among farmers and its ability to meet their evolving needs.

Raman Mittal, Joint Managing Director, International Tractors Limited, said, “This achievement reflects our commitment to providing rightly priced, technologically advanced tractors with convenient access through our extensive dealer network.”

This marked a substantial growth of 23

Company News, Finance, India, Machinery - Pre-harvesting

The company stands as the sole brand with domestic sales growth among industry leaders, reaching 18,002 tractor sales in October 2023.

Leading farm -machinery manufacturer, Sonalika Tractors has clocked its highest-ever YTD (Apr-Oct’23) overall market share of 15 per cent. It includes 18,002 overall tractor sales recorded during October 2023.

Sonalika, to make the festive season offer more to farmers to Harness advance farm technologies, has extended never-seen-before seasonal offers under ‘Heavy Duty Dhamaka’ and attractive finance schemes on its heavy-duty tractor range to attract the farming community to opt for upgradation to newer products offered by the company.

Raman Mittal, Joint Managing Director, International Tractors Limited, stated, “We are exhilarated to have achieved our highest ever YTD (Apr-Oct’23) overall market share of 15 per cent with market share gainers both in domestic and overall. We are proud to be the only brand that has registered growth in domestic sales among the leading players. Looking at the festive demand, we had already started preparing over the last few months and aligned strategies across our product and sales teams as well as dealer partners. We have ensured the availability of farmers’ preferred models across states for timely tractor deliveries.”

The company stands as the sole brand