Sonalika Recorded Highest Ever Q1 Market Share of 14.4% in June 2024, Sold 41,465 Tractors

Published - 04 Jul 2024

In June 2024, Sonalika yet again outperformed the domestic industry by registering its best-ever Q1 performance. The brand achieved its highest-ever sales of 41,465 tractors and an estimated overall market share of 14.4% in Q1.

The new astonishing milestone is driven by the company's outstanding performance in the domestic market in June '24 of 14,062 tractors, which included 16.6% growth and a market share increase of 1.4 percentile points, the highest of any tractor brand in India.

New Delhi, 4th July 2024: Sonalika Tractors, India's leading tractor export brand, is committed to delivering 'Quality in India' with its powerful but fuel-efficient tractors. It is thrilled to have 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% (estimated), and a 2X increase over industry performance.

With its quality-focused approach, the business had its best June result in the domestic market, selling 14,062 tractors. This includes a 16.6% sales increase and a market share rise of 1.4 percentile points, the most among all tractor brands. In June 2023, the business sold 12,056 tractors in the domestic market. As agri-tech solutions become more farmer-centric, the "Pride of India" Sonalika has helped countless farmers utilise exceptional power and sturdy quality in its heavy-duty tractors to increase agricultural productivity.

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

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% 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. Sonalika takes pride in being among frontrunners that boost agricultural development in India with our disciplined and qualitative approach. 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.” he further added.

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