Sonalika tractor reports 59 pc jump in tractor sales in August
Mumbai, September 1
Sonalika Tractors on Tuesday reported a 59 per cent jump in its total sales to 10,206 units in August as compared to 6,412 tractors sold in the year-ago period.
Sonalika Tractor beat its sales record in July, registering the highest-ever domestic growth of 80 per cent in the previous month with 8,205 tractors as compared to 4,560 sales in the same period last year, the company said in a release.
The total sales, including exports, stood at 10,206 tractors in August as compared to 6,412 tractors in the same period last year, it said.
“There is an upsurge in demand for tractors and we have been able to meet this growing demand. In August, we have recorded highest-ever domestic growth of 80 per cent with overall sales at 10,206 tractors, making it fourth consecutive month for us to have achieved a new record high and beating estimated industry growth of 73 per cent,” said Raman Mittal, Executive Director, Sonalika Group.
The cumulative growth during April-August was 27.1 per cent, which is highest in the entire tractor industry, helping Sonalika Tractors secure top position in the domestic growth, he said.
Mittal said demand was expected to remain healthy, owing to higher Kharif sowing and good monsoons coupled with increasing preference of farmers towards mechanisation, adding, the company was geared up for the upcoming festive season, which usually contributes 40 to 45 per cent of overall volumes.
“External conducive factors clubbed with our healthy national brand presence, strong dealer network and depots along with right tractor models customised for state or applications and a vertically integrated plant, we are well-positioned to capitalise on the positive sentiments and continue our growth momentum by outpacing industry growth,” Mittal said.
Sonalika Tractors has 24 deports and a network of 983 dealers pan-India.
Farmers are majorly oriented towards application-based farming and there has been an increased demand for customised tractors to address the specialized needs, the company said.
Along with the demand for tractors, there is an increased demand for specialised implements as well, it added. PTI
