Sonalika records all-time annual market share of 15.3% in FY24

Update On: Wed Apr 10 2024 by Gaurav Sharma
Sonalika records all-time annual market share of 15.3% in FY24

Sonalika Tractors recorded its highest ever overall annual market share of 15.3% as well as becoming the only tractor brand to grow in the domestic market in FY24.

As per a press statement, Sonalika Tractors' new peak includes the 34.4% exports market share clocked during FY24 among the tractor exporting companies from India. This includes a staggering 6.2% percentile point.

Raman Mittal, Joint Managing Director, International Tractors Limited, said, “We are thrilled to have wrapped up our FY24 journey with an all-time high overall annual market share of 15.3%. We are elated to have become the only tractor brand to grow in India -the largest tractor market of the world and also beaten industry performance. Whereas in exports, we have further reinforced our position as India’s No.1 export brand with 34.4% market share".

"The staggering growth has been enabled by our persistent focus on launching new and advanced products in our premium Tiger range and flagship Sikander DLX series, along with constant upgrades in technology across our widest heavy duty tractor range. Alongside, our unique step of showcasing tractor prices on our website has ensured transparency in tractor purchase, which has constantly increased stakeholder’s trust in our brand. This distinctive approach has also been paving our way towards continuous growth." added Mittal.

According to him, the company's leadership in tractor exports from India has been powering us to innovate continuously and aggressively across the globe. "Since most of these technology innovations are Made in India, they are even helping us to prepare for a better future. With our heads high and tailwinds of clocking such outstanding achievements, we are even stronger as an organisation and network which is all prepared for achieving new milestones in FY25 and move faster towards our ‘Mission 2 Lakh.”

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