Mechanization and Technology

Sonalika achieves overall market share of 16.3% in November 2023; Surpasses industry growth estimate of 2%

Quick Share

13 December 2023, New DelhiSonalika Tractors has clocked its highest ever 16.3% market share in November 2023. The tractor manufacturer has also clocked robust November overall sales of 12,891 tractors and highest growth of 23%, over 10,464 tractors sold in November 2022.

With this, Sonalika has also beaten industry growth in Nov’23 (est.2%) and surpassed 1 lakh tractor sales mark 7th year in a row (FY’18 – FY’24). Favorable conditions such as bullish buying during the festive season, coupled with Sonalika’s timely product availability and ideal product mix enabled the company to achieve its latest milestone. 

Sharing his views on the new milestone achievement, Mr. Raman Mittal, Joint Managing Director, International Tractors Limited, said, ‘We are thrilled to have clocked our highest ever 16.3% market share in Nov’23 along with highest 23% growth in the industry, and continued to beat industry growth (est. 2%). With this, we have also surpassed the 1 lakh tractor sales mark in just 8 months. The new record performance is an outcome of Sonalika’s holistic approach towards the entire farming community. Outpacing industry growth despite a competitive environment in the tractor industry is a testimony that our tractors have won the trust of farmers for being rightly priced with the most appropriate technology and being made available at their convenience location through our widest dealer network.”

Also Read: High Sugar Prices Create Signs of Substitution Among US Manufacturers

(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News)

Quick Share