Sonalika Tractors Records Highest Market Share Ever at 16.3% in November 2023

Sonalika Tractors has achieved an excellent target in November 2023, recording its highest-ever market share at an impressive 16.3%. The tractor manufacturer reported robust overall sales figures, with 12,891 tractors sold during the month, reflecting an exceptional growth rate of 23% compared to the same period in 2022, where 10,464 tractors were sold.

This achievement not only positions Sonalika as a leader in the industry but also showcases its ability to outperform market expectations. The company has consistently surpassed the 1 lakh tractor sales mark for the 7th consecutive year, from FY’18 to FY’24, underscoring its sustained excellence and market dominance.

Sonalika's success can be attributed to a combination of factors, including bullish buying trends during the festive season, the timely availability of products, and a well-curated product mix. These elements, coupled with Sonalika's commitment to providing quality tractors at competitive prices, have contributed to its exceptional market performance.

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Mr. Raman Mittal, who serves as the Joint Managing Director of International Tractors Limited, shared his excitement regarding this significant achievement. He mentioned how thrilled they are to have hit their all-time high market share, reaching an impressive 16.3% in November 2023. Additionally, he highlighted the remarkable growth of 23% in the industry during the same period. Mittal emphasized that surpassing the industry's projected growth of 2% is not just a win for them but also a clear demonstration of their consistent ability to outperform competitors in the tractor industry.

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He pointed out that farmers trust their tractors because they come at a fair price, feature advanced technology, and are easily accessible through their widespread network of dealers.

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