Sonalika Tractors crosses 1-lakh sales mark in FY19
Sonalika's exports also grew by 20.3 per cent at 1,507 tractors as compared to 1,253 tractors sold in the same period last year.
Pune: Sonalika International Tractors, India’s third largest tractor maker by sales, has achieved a milestone of crossing 1 lakh tractor sales in the first 11 months of fiscal FY2019.
It sold 17.8 per cent more tractors at 1,02,693 units from Apr’18- Feb'19 as compared to 87,210 tractors sold in the same period last year.
"We surpassed our previous record and registering sales of more than 1 lakh tractors in just 11 month," Raman Mittal, executive director at Sonalika ITL told Financial Chronicle.
He said this consistent growth trajectory is the testament of the brand's commitment towards providing best in class tractors to farmers globally.
"After the successful launch of the Sikander Series, we have recently launched mileage master series. With this launch we will surely continue our growth trail and will achieve newer milestones in the up-coming month," Mittal boasted.
Sonalika's exports also grew by 20.3 per cent at 1,507 tractors as compared to 1,253 tractors sold in the same period last year. The brand's domestic sales in Feb also jumped by 50 per cent at 8,000 units, including exports as against 5,549 units sold in the same period.
Dominant market leader's sales in Feb at Mahindra & Mahindra' farm equipment sector, on the other hand, fell by 7 per cent at 18,105 units as against 19,442 units sold last year. But in the first months between April 2018 to February 2019, Mahindra sold 298,296 tractors, an increase of 8 per cent against the same period in FY2018. However, exports in the same period declined by 13 per cent with 12,452 units.
"The tractor industry has remained subdued in February. However, it is expected that positive sentiments associated with the recently executed direct beneficiary transfers to marginal farmers and other pro-rural initiatives by the government, will help create momentum for tractor sales in the near term," Rajesh Jejurikar, president, farm equipment sector at Mahindra & Mahindra, said.