The tractor industry in India continues to show upward growth for straight months, beating the lockdown blues. Both Escorts Ltd Agri Machinery Segment (EAM) and Sonalika Tractors, India's leading tractor makers registered double digit growth, highlighting the continuous demand of agri-machines among rural buyers. The Festival period of Dhanteras and Diwali witnessed good footfalls, and factors like higher crop production and easy availability of finance pushed the demand momentum.
Sonalika Tractors clocked a 71% domestic growth in November’20 by selling 11,478 tractors. Cumulatively, Sonalika has overall (Dom + Exports) recorded 92,913 tractors sales in FY’21 YTD (April- Nov’20).
Escorts Tractors, on the other hand, in November 2020 sold 10,165 tractors, registering a growth of 33 percent against 7,642 tractors sold in November 2019. Domestic tractor sales of Escorts in November were at 9,662 tractors registering a growth of 30.9% against 7,379 tractors in November 2019. Export tractor sales in November 2020 was at 503 tractors against 263 tractors exported in November 2019, registering a growth of 91.3%.
Speaking his thoughts, Mr. Raman Mittal, Executive Director, Sonalika Group, said, “I am pleased to share that our strategy to offer customised farming solutions has won us the farmer’s trust in our technologically advanced products. This noteworthy trust has powered us to surpass industry growth month after month by a significant margin. Our customised tractors and implements are designed with advanced features to offer significant increase in the farmer’s productivity and thus making us the No.1 choice for farmers. Sonalika has sold 11,478 tractors in November’20, registering a remarkable 71% growth which is the highest in the industry and powered us to surpass the industry growth of 49%(Est.).
Escorts, on the other hand, said "Stock correction in the coming months would continue to push the industry upwards, supported by healthy water reservoir levels and a good harvest. The supply chain still is volatile but should improve going forward."