Japanese car, SUV and MPV manufacturer maintains the strong growth momentum it displayed in FY2024. While its popular models like the Glanza, Urban Cruiser Hyryder, Innova Crysta and Hycross continue to draw buyers, it is now banking on the new Taisor to make a mark in the booming compact SUV segment.
01 May 2024 | 3017 Views | By Ajit Dalvi
Toyota Kirloskar Motor (TKM) has begun FY2025 on a sound note. The car, sUV and MPV manufacturer has reported domestic market wholesales of 18,700 units in April 2024, up 34% year on year (April 2023: 13,896 units). TKM also exported 1,794 units last month, up 37% (April 2023: 1,307 units).
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Toyota Kirloskar Motor (TKM) has begun FY2025 on a sound note. The car, sUV and MPV manufacturer has reported domestic market wholesales of 18,700 units in April 2024, up 34% year on year (April 2023: 13,896 units). TKM also exported 1,794 units last month, up 37% (April 2023: 1,307 units).
Notably, the company has sustained its growth momentum of FY2024 despite a weeklong maintenance shutdown from April 6-14, 2024, for upkeep of machinery and equipment to maintain operational efficiencies, productivity and safety.
On April 21, TKM launched the Toyota Urban Cruiser Taisor. The Urban Cruiser Taisor is TKM’s vehicle of re-entry into the booming compact SUV segment. The Maruti Fronx-based Taisor, which uses the same powertrains (1.2L 90hp petrol and 1.0L 100hp turbo-petrol), as the Fronx, has some brand-specific styling changes.
For the January-April 2024 period, TKM has clocked cumulative sales of 90,316 units in the domestic market, which constitutes a strong 49% YoY increase (January-April 2023: 60,500 units).
It may be recollected that FY2024 was the best-ever fiscal for TKM with India market sales of 244,940 units and 41% growth. This bettered the company’s wholesales in CY2023 where TKM registered its best-ever annual sales – 221,356 units – as a result of sustained demand for its MPVs and SUVs as also the rebadged models like the Glanza, Urban Cruiser Hyryder and Rumion, ramped-up production and a number of customer-friendly initiatives.
Commenting on the April 2024 sales, Sabari Manohar, VP, Sales-Service-Used Car Business, Toyota Kirloskar Motor said, “In FY2024, we demonstrated an unwavering commitment towards quality and customer centricity that pivoted us to report record breaking growth. In April 2024, we have recorded a growth of 32% (domestic and export sales) over the same period last year. We believe that this stable performance underlines a strong foundation for another positive year.”
“Our diversified portfolio has been instrumental in driving our growth. Models such as the Innova Crysta, Innova Hycross, Fortuner, Legender, Urban Cruiser Hyryder, Hilux, and LC300 are leading the charge. Additionally, other offerings like the Camry Hybrid, Glanza, Vellfire, and Rumion have also made significant contributions to TKM's upward sales trajectory. The recent addition to our SUV lineup – the new Urban Cruiser Taisor – further reflects our commitment to meeting evolving market demands.”