Sonalika Tractors on Thursday announced registering its highest ever Q1FY23 overall sales of 39,274 tractors, which is 18 percent growth above 33,219 overall tractor sales recorded in the corresponding period in FY22.
Sonalika management in a statement said that the jump in sales happened amidst the headwinds thrown by heat waves affecting crop production across the country. However, the minimum support price (MSP) upstick offered by the Government helped in facilitating a healthy rural cash flow which eventually helped in giving push to the track demand. With the ongoing monsoon season continuing to expand base across the country, the development is likely to further help in spurring the demand, the management added.
Raman Mittal, Joint Managing Director, International Tractors Limited, said, “Delivering on farmer’s expectations month after month empowers us to set new benchmarks both in terms of product as well as performance. Achieving our highest ever Q1 overall sales of 39,274 units with 18% growth is a testament that we understand farmers and their regional market requirements well, which subsequently boils down to reinforced farmer trust in brand Sonalika. Strategically supported by our unique approach of customising our tractor portfolio, I am optimistic that we have set our FY23 course in the right direction for upcoming seasons later during the year. Sonalika Tractors will continue to address regional farmer requirements to ensure high productivity and income for their buoyant future.”