New Delhi [India], Sept 1 (ANI/NewsVoir): India's one of the leading tractor manufacturer and No.1 Exports brand from the country, Sonalika Tractor beats its last month record & registering Highest Ever domestic growth of 80 per cent in Aug-20 with 8,205 tractors as compared to 4,560 sales same period last year.
It continues its growth trajectory by surpassing estimated industry growth of 73 per cent in August-20. Overall sales (domestic plus exports) stood at 10,206 tractors in August-20 as compared to 6,412 tractors same period last year.
"The demand for tractors is on upsurge and I am happy that we are able to meet the growing demand. I am very proud to share that in August-20 we have recorded highest ever domestic growth of 80 per cent with overall sales at 10,206 tractors, making it 4th consecutive month for us to have achieved a new record high & beating estimated industry growth of 73 per cent. Our cumulative growth (April-Aug-20) of 27.1 per cent is highest in the entire tractor industry, making us secure No. 1 position in domestic growth," said Raman Mittal, Executive Director, Sonalika Group, while speaking on the performance.
"The demand is expected to remain healthy, kindled by higher kharif sowing (8 per cent higher sowing) and good monsoons (1 per cent higher rainfall this year vs normal rainfall) coupled with increasing preference of farmers towards mechanization. Farm mechanisation penetration in India stands at an average of 45 per cent for the entire crop cycle (From seed bed preparation to Harvesting). Farmers are majorly oriented towards application-based farming like puddling, mulching, baler application, orchards, horticulture etc. Paddy being the major Kharif crop, there has been demand rise for customized tractors to address the specialized needs. Along with the demand for tractors, there is an increased demand for specialised implements as well," said Mittal, while commenting on the upcoming festive season.
"At Sonalika, we are geared up for the upcoming festive season, which usually contributes 40-45 per cent of overall volumes. External conducive factors clubbed with our healthy national brand presence, strong dealer network (983) and depots (24) along with right tractor models customized for state/applications and a vertical integrated plant, we are well positioned to capitalize on the positive sentiments and continue our growth momentum by outpacing industry growth," added Mittal.
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