Surging demand for its SUVs and MPVs sees Toyota Kirloskar Motor dispatch 203,555 passenger vehicles between April and November to achieve 83% of its FY2024 sales. With four months left in FY2025, expect the Japanese manufacturer to surpass the 300,000 milestone for the first time. The four rebadged models (Glanza, Hyryder, Rumion, Taisor) have contributed 54% to total wholesales.
09 Dec 2024 | 8428 Views | By Ajit Dalvi
Toyota Kirloskar Motor (TKM), which has been having a splendid run in the passenger vehicle market since the past two years, is set to do even better in the current fiscal and is on track to achieve record sales of over 300,000 units in FY2025.
In the first eight ...
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Toyota Kirloskar Motor (TKM), which has been having a splendid run in the passenger vehicle market since the past two years, is set to do even better in the current fiscal and is on track to achieve record sales of over 300,000 units in FY2025.
In the first eight months of the ongoing fiscal, TKM has dispatched an estimated 203,555 units, which constitutes strong 33% year-on-year growth (April-November 2023: 152,758 units). This means the Japanese car, SUV and MPV manufacturer has already achieved 83% of its total FY2024 wholesales of 245,676 units, its best yet since the company began manufacturing operations 25 years ago in India in 1999.
With sustained strong demand for most of its products including the four rebadged models (Glanza, Urban Cruiser Hyryder, Rumion and Urban Cruiser Taisor), TKM has averaged monthly sales of 25,444 units in April-November 2024 compared to 19,094 units in the year-ago period.
The Innova MPV twins – Crysta and Hycross – continue to be the biggest contributors to TKM sales and at an estimated 69,419 units, they account for 34% of the company’s total PV dispatches till end-November 2024. Last month saw the Innova Hycross, which has completed two years since its launch, cross 100,000 wholesale units, highlighting the sustained demand for the eco-friendly hybrid MPV across the country, including Tier 2 and Tier 3 markets.
In second place is the Urban Cruiser Hyryder (41,077 units) with a 20% share of sales and 7,277 units ahead of the Glanza hatchback (33,800 units). The butch Fortuner SUV with over 21,000 is ranked fourth, while the Urban Cruiser Taisor compact SUV (20,208 units) and the Rumion MPV (14,267 units) take fifth and sixth positions respectively in the TKM portfolio. The company also retails the Hilux pickup, Vellfire luxury MPV and the Camry hybrid sedan.
URBAN CRUISER HYRYDER BEST-SELLING REBADGED MODEL
Following Toyota Corp’s global product-sharing pact with Suzuki Corp, TKM’s move to introduce Maruti-rebadged models has paid off handsomely. At present, there are now four badge-engineered models in India bearing the Toyota logo – the Glanza (based on the Maruti Baleno), Urban Cruiser Hyryder (based on the Maruti Grand Vitara), Rumion (based on the Maruti Ertiga) and the Urban Cruiser Taisor (based on the Maruti Fronx).
These four Toyota models, with cumulative wholesales of 109,352 units between April and November 2024, accounted for 54% of TKM’s total PV wholesales of 203,555 units (up 33% YoY). The Hyryder with 41,077 units, up 53% YoY, is currently the best-selling of the four rebadged models (see data table above).
In FY2024, of the two rebadged models – Glanza and Hyryder – the Glanza with 52,262 units was ahead of the Hyryder (48,916 units). In the current fiscal’s first eight months, the Hyryder is ahead of the Glanza, which has seen a decline which is in keeping with the overall hatchback industry trend.
Meanwhile, the Toyota Urban Cruiser Taisor compact SUV, launched on April 3, 2024 but whose deliveries began in May, has clocked cumulative seven-month wholesales of 20,208 units till end-November 2024. The Rumion MPV, launched in August 2023, accounts for 14,267 units.
A quick look at Toyota Kirloskar Motor’s past 10 years’ wholesales data reveals just how rapidly the company has grown, particularly since FY2023 when it clocked sales of 173,245 passenger vehicles (up 40% YoY). It followed this strong show with a similar 41% YoY increase in FY2024 to a best-ever 245,676 units. Given the company’s 25,444 units average monthly sales over the past eight months, and if the same strong pace of growth is maintained in the upcoming and remaining four months of the current fiscal year, Toyota India is well placed to drive past the 300,000-unit milestone in FY2025.
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