Sonalika Tractors Hits New Sales Record in February 2024, Achieves 16.1% Market Share Milestone

Sonalika Tractors, a leading brand under International Tractors Limited, set a new sales record in February 2024, showcasing an outstanding performance in the tractor industry. With a significant surge in sales, the company proudly announces a historic high in its market share, marking a milestone in its growth journey for the fiscal year 2024.

Sonalika Tractors achieved an impressive overall market share of 16.1% in February 2024, the highest ever for the company in this month. This achievement comes as a result of selling 9722 tractors (Dom+Exp), demonstrating a robust growth compared to previous years. This performance not only signifies the brand's dominant position in the market but also highlights its role as the only tractor brand to witness growth during this period.

Comparing year-on-year sales, Sonalika Tractors has seen a little drop from 6994 units (domestic) in February 2023 to 6911 tractors (domestic) in February 2024. This growth trajectory were notable considering the sales in February 2023 were up from 6505 units (domestic) in February 2022.

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The company attributes its success to its farmer-centric approach, focusing on heavy-duty tractors that meet the evolving needs of the farming community. Sonalika's commitment to innovation and quality is evident in its recent launch of 10 new Tiger tractors, ranging from 40 to 75 HP. These tractors are designed with premium features aimed at enhancing the farming experience and ensuring productivity and prosperity for farmers.

Raman Mittal, the Joint Managing Director at International Tractors Limited, expressed his excitement over this achievement. He emphasized that the company's growth in FY'24 has reached a new peak, with February's sales performance setting a record for the highest overall market share. Mittal highlighted the significant market share gain of 3 percentile points, underscoring the company's leading position in the industry.

Also Read: Sonalika Launches Largest Ever 'Tiger' Tractor Lineup for Indian Farmers: 10 Advanced Models in 40-75 HP Range

Mittal also pointed out the pivotal role of Sonalika's heavy-duty tractor range in redefining prosperity for farmers, ensuring their trust in the brand's adaptability and consistency. The launch of the new Tiger tractors is a testament to Sonalika's commitment to innovation and its dedication to the farming community's well-being.

Looking ahead, Sonalika Tractors is set to continue its growth momentum with more new launches and initiatives aimed at strengthening its position as the preferred choice for farmers. The company's focus on delivering value to its customers, combined with its strategic approach to market expansion, promises to drive further success in the coming years.

Sonalika's latest sales record is a significant milestone that not only reflects the company's robust performance but also its contribution to the agriculture sector. As Sonalika Tractors continues to lead with innovation and excellence, it is set to create more milestones and enrich the lives of farmers across the globe.

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