Sonalika International Tractors are planning to make their way in the Chinese market with the aim of expanding their market and increasing the sales rate by doubling it in the next 5 years. The company has sold 1 lakh units and are looking to assemble the tractors in China with the help of a local partner which has still not been revealed. The company is currently looking for the right product that shall enter the Chinese market. With a population bigger than India, China might seem like a good market for the car brand and the company might even think about opening a plant there.
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In the last fiscal year the company has sold 1,00,001 units of tractors. 86,000 units were sold in India while rest were exported. To help increase the sales rate the company will develop new products like the Sikander range of tractors and has also planned on investing Rs 250 crore for the fiscal year 2018-19. Some of the major investing goes into introduction of the new CRDi (common rail direct injection) engine platform, launch of the new transmission and more.
