Sonalika International Tractors Ltd. recorded a strong double-digit sales growth of 33% on-year in December 2024 by expansion of its heavy duty tractor portfolio as per farmer’s needs, and enhancing its service network. The company also achieved its highest monthly market share of 18% in December.
The tractor sales of the company increased to 10,639 units in December from 7,999 units in the year ago period. In the year-to-date (April-December, 2024) period, it registered sales of 119,369 units. The company said it has surpassed industry growth by 2.4 times.
"With our robust portfolio of heavy-duty tractors, we are poised to seize every new opportunity in the New Year 2025 and are committed to delivering on farmer expectations and driving agricultural prosperity," the Joint Managing Director of Sonalika Group, Raman Mittal said.
Punjab-based Sonalika is the largest tractor exporter with an export market share of around 34.3%, selling its tractors to more than 150 countries. It is a major tractor manufacturer in India with a share of around 13.5% in the domestic market.
Sonalika has a tractor manufacturing plant in Hoshiarpur, Punjab, with an annual production capacity of 300,000 tractors. The facility has 10 different manufacturing units, producing heavy-duty tractors.
Major players in the tractor industry such as Mahindra & Mahindra and Escorts Kubota expect a double digit growth in the second half of FY25, with an overall sales hitting new peak in FY26.