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Farm Equipment

Sonalika Tractors post 18.6% sales growth in May 2020

Sonalika Tractors post 18.6% sales growth in May 2020

India’s one of the leading tractor manufacturing company, Sonalika Tractors has registered phenomenal overall growth of 18.6% (Domestic+Exports) with sale of 9177 tractors in May 2020.

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CHANDIGARH, 5 June 2020: India’s one of the leading tractor manufacturing company, Sonalika Tractors has registered phenomenal overall growth of 18.6% (Domestic+Exports) with sale of 9177 tractors in May 2020, as compared to 7737 tractors in May 2019.

During the month, the company also registered a 25% growth in exports with 1537 tractors, as compared to the same period last year.

In May 2020, plant operations reached 85 percent in the lasr week of May, the company is expexting to be operational fully by this month.

The company is also expecting to surpass May growth in June and is also looking to surpass first quarter results of fiscal year 2020-21.

Speaking on the performance, Raman Mittal, Executive Director, Sonalika Group, said, “It gives me pleasure that we have registered healthy overall growth of 18.6 percent in May 2020, with 9177 tractors sale, despite the challenging situation. Taking cognizance of the situation, we remained positive and stayed innovatively engaged with the teams. We rolled out a host of initiatives to strengthen our bond and trust with our channel partners, customers and community”.

Adding further, Mittal said, “For the farmers, the real currency is their crops. Tractors play a very important role in the farmer’s life to enhance his productivity from the given set of his land. Farmers are majorly oriented towards application based farming like puddling, mulching, baler application, orchards, horticulture etc. Paddy being the major Kharif crop, we are seeing a demand rise for customized tractors which will be able to address these specialized needs. Along with the demand for tractors, the demand for specialised implements is also expected to go up.”

Sikander series now contributes to 75-80% in entire Sonalika portfolio, that too within 2 years of its launch.

“We are a leading brand in more than 50 HP segment and now are targeting to achieve leadership position in more than 40HP segment as well, with the launch of 4 new next-gen series tractors viz. Tiger (Designed in Europe), Sikander DLX (10 Deluxe features), Mahabali (Puddling special for Telengana) and Chhatrapati (For Maharashtra). These new tractors are the 1st of its kind in India which will offer customization that will address the local needs of farmers. These new tractors are expected to contribute 20-25% of volumes in our overall sales”, Mittal said.

Commenting on the future, “Government has been supportive in taking necessary measures to ensure that farmers face no issues while reaching out to their crops and gaining access to Mandis. The incentives and reforms have been positive. It is expected that all the financial institutions would be very aggressive in tractor financing since the rural industry is expected to grow compared to other automobile industry. Rabi crop sowing has commenced and monsoons are expected to be normal. Overall, farmers are happy with the money in hand. We have seen a healthy growth of 26% in our tractor deliveries in May 2020.”

“With farmer sentiments continuing to remain positive, the industry deliveries is expected to register approx. 10% growth in June 2020. With the increasing preference of farmers towards mechanization, we are expecting a demand uptick not just in domestic market but also in exports markets where we are the No.1 exporter from India. At Sonalika, we shall continue to work on the innovative approach to continue our growth momentum and perform better than industry,” Mittal underlined.

Sonalika Tractors has the World’s no. 1 integrated tractor manufacturing plant, with 10 lakh proud farmers across 120 countries.

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