Sonalika Tractors recently reported sales growth in its domestic market of 42%, for an annual sales volume of 139,526 tractors in its fiscal year 2021.
According to a report from ETAuto, Sonalika Tractors saw an increase in its sales last month, reporting 9,177 units sold, up 18.6% from 7,737 units sold in the same month last year.
Farm equipment dealers in India have been permitted to re-open their businesses through a new set of lockdown rules issues by the Indian government that will come into effect on April 20, according to a report from BBC.
After receiving positive responses from farmers in Europe and Asia, Sonalika Tractors, part of International Tractors Ltd. (ITL), is looking to expand its reach in 5 more markets. Apart from expanding its reach, the company is also aiming for 20% growth in 2018 based on its Indian business and other markets it is already catering to.
If reports in the Indian press are accurate, John Deere is eyeing a major expansion in that country, which will put it head to head with some of the largest and well-established manufacturers of farm tractors.
Each monthly issue of Ag Equipment Intelligence is like getting one-on-one personal advice from the world's most trusted ag equipment industry experts. Advice that hasn't been watered down or distorted by outside influence, providing the latest and most insightful farm equipment analysis. AEI explores where the ag equipment industry is going — not just where it's been. No filler. No bias. No conflict of interest. You can access the PDF issue archive by clicking here.
In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.