Sonalika-ITL achieved highest market share of 14. 2% in Nov’16
India’s 3rd largest tractor manufacturing company, Sonalika-ITL., has posted an impressive performance in Nov’16 by selling 5778 units. While most of the industry players have shown de-growth of business, Sonalika International Tractors Ltd achieved a market share of 14.2% which is all time high of last 2 yrs. & also grown in volumes by 4%. This is the result of exceptional product performance and appreciation by farmers. The company’s exports also grew by 32% in November.
- All time high (since 2014) Domestic Market Share of 14.2% in Nov’16
- Both Volume & Market Share grew by 4% & 2.3 % respectively while Tractor Industry decline declined by 9.3%
- Sonalika-ITL crossed 50,000 tractors in just 8 months of current Financial Year
Mr. Raman Mittal, Executive Director -Sonalika-ITL
Delighted by this growth, Mr. Raman Mittal, Executive Director -Sonalika-ITL said; that they have achieved the highest market share of 14.2% in any single month from last 2 years. Their success has been despite the market conditions which have toughened and the industry has slowed down. This is the result of our focused strategies in order to improve sales across regions. Sonalika-ITL has well placed its product offerings both in the cost efficient and premium segment to optimize the growth potential. The company follows the customer-centric approach to manufacturing ergonomically designed products suitable to farmers need enabling them to earn and save more. This has given the company an edge over its competitors to earn trust of now 7 lakh customers globally.
Sonalika International Tractors Ltd
Representing India on the world Map, today, Sonalika International Tractors Ltd is catering to more than 100 countries, including 20 European countries, with its product offerings from 20HP to 120HP that are completely made in India. Sonalika-ITL has established one of the world’s largest integrated tractor manufacturing plant equipped with world class technologies. The new plant will provide a complete agricultural solution to cater to the need of global & domestic markets while matching international quality standards.