Sonalika achieves estimated global market share of 16% in November, with market share gain of 1.4%, Auto News, ET Auto

Sonalika sold 3,225 tractors in November compared to 1,607 tractors exported the same month last year and recorded growth of 100.7%.

New Delhi: The growing awareness of the importance of technology in agriculture has led to rapid innovation in agricultural equipment solutions.

Farmers all over the world are becoming increasingly progressive, as the demand for agricultural mechanization is also observed even beyond the traditional festive seasons.

Sonalika Tractors, one of India’s leading tractor manufacturers and the country’s No.1 export brand, continued to stay ahead of industry performance to achieve the highest market share. All-time high in November of 16% and was among the top market share winners with 1.4%. Overall, the company recorded 11,909 global tractor sales on November 21.

During the month, Sonalika further increased its export lead and strengthened its position as the No. 1 export brand. The company registered 22,268 tractors exported in YTD and surpassed full FY21 sales in just 8 months. This includes a whopping 72.2% year-to-date growth of 12,937 tractors sold in the corresponding period last year.

In total, Sonalika sold 3,225 tractors in November compared to 1,607 tractors exported the same month last year and recorded a growth of 100.7%.

Sharing his thoughts on this superior performance, Raman Mittal, Executive Director of Sonalika Tractors, said, “The introduction of on-time orders continues to be the key to Sonalika’s successful growth. Building custom tractors according to the farmers’ requirements centered on the region is our main strength which allows us to partner with the farmers for progressive farming activities. I am delighted to report that these key factors have collectively guided us to win our highest market share on record in November of 16% with significant market share growth of 1.4% during the month. Additionally, we reached another milestone this month in exports as we proudly crossed last year’s exports with YTD FY’22 sales of 22,268 tractors in just 8 months. Sonalika’s R&D experts continue to work hard to put innovative ideas into practical form and we remain committed to leading farmers into a progressive future in a cost-optimized manner. “

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Total tractor sales over the past month were 7,116 units from 10,165 units in November 2020, down 30%, Escorts said.

The company’s total sales fell 15% to 27,681 units in November this year, from 32,726 units the month before.

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