Sonalika Tractors sold 39,274 tractors in its highest ever first quarter in FY13, a growth of 18 per cent as compared to 33,215 units sold in the same period a year ago. The company said that despite the unprecedented heat affecting crop production across the country, the increase in MSP from the government facilitated healthy rural cash flows, boosting the overall demand for the tractor in Q1 FY23. As monsoon continues to extend across the country, Sonalika Tractors expects strong sales in the current quarter as well and will strengthen its reach to support farmers in their everyday farming challenges.
Raman Mittal, Executive Director- Sonalika Group
Commenting on achieving the new Q1 performance milestone, Raman Mittal, Joint Managing Director, International Tractors Ltd., said, “Meeting farmers’ expectations month after month has enabled us to set new benchmarks both in terms of product and performance. Achieving our peak 18% growth in 1st quarter total sales of 39,274 units is a testament to the fact that we understand the farmers and their regional market requirements well, which will later lead to Sonalika brand Strengthens the confidence of farmers. Strategically backed by our unique approach to optimize our tractor portfolio, I am optimistic that we have set our FY’23 course in the right direction for the upcoming season during the coming year Sonalika Tractors will continue to meet the needs of the regional farmers to ensure higher productivity and income for their prosperous future.”
In February this year, Sonalika Tractors became the largest tractor export brand in India, registering an impressive year-on-year (YTD) growth of 60.1 per cent in the period April 2021 – January 2022. The company exported 28,722 units between April 2021 and January 2022, as against 17,938 units in the same period a year ago. In January 2022, Sonalika Tractors exported 3,022 units as compared to 2,004 units exported in the same month a year ago, registering a growth of 50.8 per cent.