Sonalika registers highest ever total annual market share of 15.3% (est.) in FY’24 and becomes the only tractor brand to register growth in the domestic market
Concluding a glorious year full of strong performances, Sonalika Tractors overcame the difficult circumstances of FY’24 to deliver a commendable performance in FY’24 with highest ever Total Annual Market Share of 15.3% (est.) and leading domestic market Has become the only tractor brand to register growth in the market.
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Sonalika Tractors, the No. 1 brand in tractor exports from India, fueling its commitment to innovation and leveraging its farmer-centric approach, achieved a new milestone and concluded FY’24 with Excited for. The company has become the only tractor brand to grow in the domestic market in FY2024 with the company achieving its highest ever total annual market share of 15.3% (est.). This tremendous achievement has enabled Sonalika to outperform the industry.
The latest performance has seen Sonalika register an unbeatable 34.4% export market share (est.) among tractor exporting companies from India. This includes an astonishing 6.2% (est.) market share increase. Sonalika navigated through the difficult circumstances of FY’24 with its unique approach throughout the year –
- Organized the first of its kind ‘ITL Global Partners Summit (GPS 200)’ in India where 5 new tractors including ‘SV Series Electric Tractor’ designed for international markets were launched.
- The largest tractor range under the premium Tiger series has been launched, with 10 new models ranging from 40-75 HP.
- The announcement of an investment plan around Rs 1300 crore to establish two new plants in Hoshiarpur will further strengthen Sonalika’s position as the owner of the biggest tractor plant in the world.The announcement of an investment plan around Rs 1300 crore to establish two new plants in Hoshiarpur will further strengthen Sonalika’s position as the owner of the biggest tractor plant in the world.
Sikander DLX DI 60 Torque Plus was also launched, featuring the largest engine in the range and made available at the same price across the country.
Along with this, 5 years tractor warranty was also made available in the heavy duty tractor range.
Expressing his thoughts, Mr. Raman Mittal, Joint Managing Director of International Tractors Limited, stated, “We are delighted to wrap up our FY’24 journey with the highest-ever Total Annual Market Share of 15.3% (estimated). We take pride in being the sole tractor brand in the world’s largest tractor market, specifically crafted for growth in India. Our strides towards excellence in the industry have propelled us to greater success.”
We’ve confirmed our status as the top contender once again. No. 1 brand in tractor exports from India with 34.4% (est.) market share.
Sonalika has generated growth surprises by launching new and advanced tractors in the premium Tiger range and the flagship Sikander DLX series. We have continuously introduced new technology in the heavy duty tractor range. Along with this, we have ensured transparency in displaying tractor prices on our website. Due to which everyone’s confidence in our brand has continuously increased. This special approach is also clarifying the path for our continued growth. Additionally, our leadership in tractor exports from India is giving us the ability to operate innovatively and effectively globally. Most of these technologies are “Made in India”, helping us towards a better future.
“Our network and – have become even stronger as a result of these incredible successes, which will enable us to hit new benchmarks and move faster towards our “Mission 2 Lakh” in FY 2025.”
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