CHANDIGARH, 2 Jul 2020: India’s leading tractor manufacturing Sonalika Tractors has recorded a 55 percent growth in tractor sales for June 2020 at 13,691 units.
The overall tractors sales including exports were recorded at 15,200 tractors and capturing the market share of 15.4 percent in June’20, the company said in a statement.
Speaking on the performance, Sonalika Group executive director Raman Mittal, said, “Beginning of Q1 this year when the first-ever lockdown was announced we as a company had decided to put all our energies with positive effort to try not to de-grow in Q1. Today, the entire team is feeling proud that we have not just achieved our goal but also have registered an overall growth of 5% in Q1 which is highest for the industry."
"It is a matter of great pride for us that not only in the tractor industry but also in automotive, two-wheeler and CV industry, Sonalika is the only company to register maximum growth in these tough times. We are extremely delighted with the overall robust performance in June’20 with 15200 tractors which is our highest ever,” Mittal underlined.
Commenting on the winning strategy he added, “The key to our success rests on 4 areas:
First, our investment in the largest vertical integrated manufacturing unit which has helped us to ramp up our production within a very short span. We had already reached 80% utilization in Wk4 May itself and in June we continued to operate at an optimum level.
Second, being a tech-savvy company, our entire supply chain is technologically enabled. We have a complete end to end supply chain management solution in-house. All our 24 depots spread across the states are inter-connected enabling us to keep a track of the tractor delivered on a real-time basis and we manage our production as per the consumption. This has helped us to maintain the optimum level of stocks across our depots and dealerships.
Third, our focus to keep innovating, developing, and launching new products continued during the time of COVID-19. We had a series of new products that were launched during this period, which have helped the farmers immensely to increase their productivity, reflecting in volume gain for our tractors.
Fourth, we keep strengthening our coverage. Last year, we widened our existing network of channel partners and are continuing to do so even now. With this, we have the largest network of channel partners, as wherever there was a business opportunity our teams were present to capitalize on the same.”
Speaking on Sonalika’s future plans, he said, “The tractor demand and farmer’s sentiments have picked up on account of various conducive factors like government initiatives including an increase in MSP price, favorable monsoons and bumper sowing of summer crops. The farmers are happy with the money in their hands-on account of a good Rabi harvest. These positive sentiments are expected to continue and we are well-positioned to gain from the same.”
