Published By : Khetigaadi Team 16
Sonalika International Tractors, India's third biggest tractor brand producer by sales, has accomplished an achievement of crossing 1 lakh tractor deals in the first 11 months of financial FY2019.
It sold 17.8 percent more tractors at 1,02,693 units from Apr'18-Feb'19 ascompared to 87,210 tractors sold in a similar period a year ago.
"We outperformed our past record and enlisting offers of more than 1 lakh tractors in just 11month," Raman Mittal, official chief at Sonalika ITL revealed to Financial Chronicle.
He said this steady development direction is the confirmation of the brand's dedication towards giving stand out tractors to ranchers all inclusive.
"After the successfully launching of the Sikander Series, recently we launched mileage master series. After this new launch we are surely going to make a new record and continue are growth and come back with new developed milestone in the up-coming month," Mittal said.
Sonalika's exports are increased by 20.3 percent at 1,507 tractors when compared with 1,253 tractors sold in a similar period a year ago. The brand's local deals in Feb likewise increased by 50 percent at 8,000 units, including sends out as against 5,549 units sold in a similar period.
Supreme market leader Mahindra and Mahindra's sales falls down by 7 percent at 18,105 units as against 19,442 units sold a year ago. However, in the principal months between April 2018 to February 2019, Mahindra sold 298,296 tractors, an expansion of 8 percent against a similar period in Financial year 2018. also, exports in a similar period declined by 13 percent with 12,452 units.
"The tractor business had slowed down in February. Due to recently executed Central government scheme of direct beneficiary transfers to marginal farmers and other pro-rural initiatives, which will help to create a new momentum for tractor sales," Rajesh Jejurikar, president, farm equipment sector at Mahindra & Mahindra, said.
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