Sonalika's Q1 sales soar to 41,465 tractor sales, market share increases to 14.4%

02 Jul, 2024

Sonalika has announced its Q1 and June 2024 tractor sales data to help us understand its performance for the respective periods. Let’s decode the sales numbers for you. 

Sonalika June 2024 Tractor Sales 

Sonalika sold a total of 14,062 tractors in June 2024 and registered YoY sales growth of 16.6%. Its market share for June 2024 also increased by 1.4 percentile, the highest amongst other tractor brands. 

Sonalika Q1 FY 2025 Tractor Sales 

With June 2024, Q1 FY 25 also ended and Sonalika registered a total sales of 41, 465 units during April- June 2024 whereas its overall market share remained at 14.4%. This leading tractor manufacturer also showcased 2x growth over industry performance for Q1 FY25.

Speaking on the company’s performance, Raman Mittal, Joint Managing Director at International Tractors Limited (Sonalika & Solis) said that factors such as healthy monsoon predictions, high acreage of Kharif crops, and position conditions of La Nina are increasing the tractor demands. Sonalika is committed to offering quality tractors, equipped with advanced technologies, to the farmers. 

Sonalika Tractors Press Release June 2024

Sonalika continues to outperform domestic industry in June’24 to clock best ever Q1 performance; achieves highest ever Q1 overall sales of 41,465 tractors and highest ever overall market share of 14.4% (est.)

The new staggering achievement is driven by the company’s praiseworthy performance in the domestic market in June’24 of 14,062 tractors which is inclusive of 16.6% growth and market share gain of 1.4 percentile points, the highest among all tractor brands in India.

New Delhi, 4th July 2024: India’s No. 1 tractor export brand Sonalika Tractors is committed to deliver ‘Quality in India’ with its powerful yet fuel efficient tractors and is excited to have created a new historic milestone in Q1 FY '25. The company has clocked its best ever Q1 overall sales of 41,465 tractors and highest ever overall market share of 14.4% (est.) as well as recorded 2X growth over industry performance.

With its quality-focussed approach, the company has also achieved its best ever June performance in domestic market with 14,062 tractor sales. This includes sales growth of 16.6% and market share gain of 1.4 percentile points, which is highest among all tractor brands. The company sold 12,056 tractors in domestic market in June’23. As agri-tech solutions continue to be more and more farmers centric, the “Pride of India” Sonalika has facilitated countless farmers to leverage superior power and robust quality in its heavy duty tractors for higher farm output.

Sharing his thoughts on the record performance, Mr. Raman Mittal, Joint Managing Director, International Tractors Limited, said, ‘We are elated to achieve our best ever Q1 performance in FY '25 with the highest ever overall sales of 41,465 tractors and highest ever Q1 overall market share of 14.4% (est.) as well as recorded 2X growth over industry performance. This is powered by a staggering June'24 domestic market performance of 14,062 tractor sales, marking a record sales growth of 16.6% and market share gain of 1.4% percentile points, both being the highest among all the tractor brands.

Early arrival of the monsoon in India has brought in positive sentiments in the Indian agri sector as Kharif acreage has picked up by over 30% in FY’25. La Nina conditions are likely to pick up pace in the second half of the monsoons and should cover up the on-going deficiency in the monsoon precipitation. Sonalika takes pride in being among frontrunners that boost agricultural development in India with our disciplined and qualitative approach. Our teams collaborate effectively to brainstorm, design and develop new farm-tech machinery that makes farming more sustainable and are more than keen to play a leading role in the overall progress of our farmers.”