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Domestic tractor maker Sonalika on Monday reported a 23.2 per cent increase in total sales at 7,369 units in August, aided by a massive 90 per cent growth in overseas shipments.
Total sales, including exports, during August 2017 were 6,036 units, International Tractors Ltd (ITL), which makes the Sonalika brand of tractors, said in a statement.
“The company has registered an overall sales growth of 23.2 per cent with 7,369 tractors in August 2018 as compared to 6,036 tractors in the same period last year,” it said.
Tractor exports nearly doubled to 2,082 units as compared to 1,095 units shipped out in the same month a year-ago, thereby, logging 90 per cent growth during the period, it said.
“We are delighted with the overall 23.2 per cent growth, which was driven by a 90 per cent growth in exports. An all-time high performance in Asia and Europe helped us achieve this extraordinary growth,” Sonalika Group’s Executive Director Raman Mittal said.
“In the domestic market, with the onset of the festive season, we are optimistic that the industry should continue to grow at a healthy pace, driven by positive farmers’ sentiments,” he added. Sonalika ITL exports tractors to over 100 countries.
With a facility based at Hoshiarpur in Punjab that has a capacity to produce three lakh tractor units, Sonalika ITL is the third largest tractor maker, offering vehicles in 20HP to 120HP range.
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