Tractor manufacturer Sonalika has announced that it has achieved cumulative sales of 1 lakh tractors in FY2023 in eight months – its fastest yet. The company reported that it had hit the number as of end-November 2022 with year-to-date numbers seeing a 11.2 per cent growth over the last financial year. Sonalika said that it had beaten the industry growth of 8.8 per cent reported in the same period.
Speaking on the brand’s sales performance, Raman Mittal, Joint Managing Director, International Tractors Limited, said, “I feel overwhelmed to share that we have recorded our fastest ever 1 lakh tractor sales in just 8 months, which is powered by our deep market understanding and impeccable farmer connect. From aiming at 50,000 tractor sales at one time, to clock 1 lakh tractor sales consistently for last 6 years advocates that we have been delivering on our promises throughout our journey in India – the world’s largest tractor market – as well as across the world. Farmers have been now steadily accepting that farm mechanisation is the way forward towards higher productivity and consistent income in existing agri ecosystem. Subsequently, product upgrades today are not limited to festive season only and there has been a considerable decrease in product replacement cycle as well.”
The company said that it had retailed 1 lakh tractors on a yearly basis for the past six financial years. The company hit the 1 lakh unit yearly sales milestone for the first time in FY2018.