Sonalika Tractors market share increases to 12%, grows by 50%
Sonalika International Tractors Limited (SITL), offers tractors in the range between 20 hp and 110 hp. In the last four years, the company has grown its market share in the segment to 12%, which is an increase of 50%.
Set for even further expansion both in domestic and international markets, the company recently inaugurated a new manufacturing plant in Hoshiarpur, Punjab which will soon be operational.
The plant will have monthly production of 15,000 units which according to company officials will be the world’s largest tractor manufacturing facility. Sonalika Tractors‘ current production capacity stands at 80,000 units per annum which will be augmented to 200,000 units per annum once the new manufacturing plant is operational.
The new Hoshiarpur plant is a world-class unit with all manufacturing facilities, from the engine to assembly. A robotic paint facility is also on the premises for the base and top coat which has been introduced for the first time in the tractor industry in India.
The company is a leading brand in both Haryana and Himachal Pradesh and is among the top 3 in the states of J&K, Punjab, Chhattisgarh, Jharkhand, West Bengal, Maharashtra, Gujarat, Rajasthan, Assam, and Orissa. Exports are conducted to over 100 countries with over 6 lakh clients in these regions while expansion plans to Russia and CIS markets are also on the cards along with European and non-European countries.
Sonalika Tractors has a market share of 12% in the farm equipment market and has over 850 dealerships and over 2,000 customer touch points to be increased to over 2,500 by the end of this fiscal.