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Sonalika Records 55% Domestic Growth, Surpasses 23% Industry Growth in June

Sonalika Records 55% Domestic Growth, Surpasses 23% Industry Growth in June

June'20 Key Highlights 

                       Crosses all time highest milestone with overall sales of 15,200 tractors & 15.4% market share

 Strengthens No.1 position in Exports 

India's one of the leading tractor manufacturing brand & No.1 Exporter from the country, Sonalika Tractors outpaces industry by 2.4X times and with a new record of ever highest domestic sales of 13,691, registering 55% growth against industry growth of 23% and overall sales of 15,200 tractors & 15.4% market share in June'20. 

Sonalika Mar 201940213

 Speaking on the performance, Mr. Raman Mittal, Executive Director, Sonalika Group, said, "Beginning of Q1 this year when the first ever lockdown was announced we as a company had decided to put all our energies with positive effort to try not to de-grow in Q1. Today, the entire team is feeling proud that we have not just achieved our goal but also have registered an overall growth of 5% in Q1 which is highest for the industry. It is a matter of great pride for us that not only in tractor industry but also in automotive, two-wheeler and CV industry, Sonalika is the only company to register maximum growth in these tough times. We are extremely delighted with the overall robust performance in June'20 with 15200 tractors which is our highest ever." 

Mr. Raman Mittal, Executive Director, Sonalika Group

Commenting on the winning strategy he added, "The key to our success rests on 4 areas: 

First, our investment in the largest vertical integrated manufacturing unit which has helped us to ramp up our production within a very short span. We had already reached 80% utilization in Wk4 May itself and in June we continued to operate at optimum level. 

Second, being a tech savvy company, our entire supply chain is technologically enabled. We have a complete end to end supply chain management solution in-house. All our 24 depots spread across the states are inter-connected enabling us to keep a track of the tractor delivered on real time basis and we manage our production as per the consumption. This has helped us to maintain optimum level of stocks across our depots and dealerships. 

Third, our focus to keep innovating, developing and launching new product continued during the time of COVID-19. We had a series of new products that were launched during this period, which have helped the farmers immensely to increase their productivity, reflecting in volume gain for our tractors. 

Fourth, we keep strengthening our coverage. Last year, we widened our existing network of channel partners and are continuing to do so even now. With this we have the largest network of channel partners, as wherever there was a business opportunity our teams were present to capitalize on the same."  

Speaking on Sonalika's future plans, he said, "The tractor demand and farmer's sentiments have picked up on account of various conducive factors like government initiatives including increase in MSP price, favourable monsoons and bumper sowing of summer crops. The farmers are happy with the money in their hands on account of a good rabi harvest. This positive sentiments are expected to continue and we are well positioned to gain from the same. We are the no.1 brand in exports from India, thus making our Nation proud globally. We take pride as Indians and are ready to challenge any situation with Sonalika's Passion and Unstoppable spirit. All our efforts and actions are set to continue on this growth journey for our great Nation."

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