Backed with consistent growth, India’s youngest and the third largest tractor brand, International Tractors Limited (ITL), makers of Sonalika tractors, is soaring high with 57.6% growth in September. The company set a record by selling 50,002 tractors, its highest ever in first half of the current financial year.
The total tractor sales, domestic and exports, during September 2017 were at 13,830 tractors with growth of 57.6%. Exports for the month grew 118% by achieving volume of 1,774 tractors. In domestic market, Sonalika achieved 12,056 volumes with growth of 51.4%.
Cumulatively Sonalika ITL sold 50,002 tractors till September 2017 in the current financial year compared to 40,258 tractors in last financial year; registering a growth of 24.2%.
Highlighting about the growth, Raman Mittal, Executive Director, Sonalika ITL said: “We are working consistently to launch new tractors every year, we have focused across HP segments and our tractors have become preferred choice for progressive farmers across various geographies in India as well as across the globe as they are best suited for multi-crop patterns as well as non-agricultural usages.”
“We are very focused that our tractors should increase the farmers’ income and as result we are also seeing consistent growth by growing 18% in fiscal year 16-17, 18.5% in Q1, 37% in August 2017 and 57.5% in September 2017 of FY 2017-18 in the domestic market,” Mittal added.
International Tractors Ltd is a manufacturer of heavy duty tractor range, which produces technologically higher tractors in a range from 20HP to 120HP. Sonalika has established World’s No.1 integrated tractor manufacturing facility, strategically located in Hoshiarpur, Punjab, having capacity of 3 lakh tractors.
Sonalika ITL is the third largest tractor maker in India and is recognised in both domestic as well as international market as a formidable player. The company has earned the trust of over 7 lakh customers in more than 80 countries in two decades, signifies its growth. The Company has strategic business partnership with Yanmar, Japan.