Toyota Kirloskar Motor sells 10,701 units in August, down 24%

Toyota Kirloskar Motor has reported sales of 10,701 units in the domestic market in August 2019. This marks a year-on-year fall of 24 percent (August 2018: 14,100).

Commenting on the sales performance, N Raja, Deputy Managing Director, Toyota Kirloskar Motor, said, “The consumer sentiment continues to be muted in the month of August, with customers deferring their purchase of vehicles. Severe floods across states has also hurt the demand in the industry. The unfavorable exchange rate is not helping our cost."

"We are happy that despite the current slowdown in the industry which has resulted in slump in domestic sales, Glanza sales have shown a positive momentum. We have been successful in reaching out to our target buyers ‘First Time Toyota Buyers’, we have seen higher footfalls from them.

"The Union Finance Minister announcing measures recently to boost the auto sector with cheaper car loans, improving liquidity through credit expansion to public sector banks, deferring of one-time registration fees, higher depreciation for all vehicles and lifting ban on purchase of new vehicles in government departments is likely to spur some demand, which is a much-needed relilef.  The latest FDI reforms which will boost local manufacturing, also comes as a positive move to propel growth in the industry in the long run."

"The latest FDI reforms which will boost local manufacturing, also comes as a positive move to propel growth in the industry in the long run. We hope that the festive cheer ushers in positive sentiments with better retail sales in the upcoming months.”

2019 sales statistics
January: 11,221 (-9.15%)
February :11,760 (-0.88%)
March: 12,818 (2.23%)
April: 10,112 (-22.44%)
May: 12,138 (-7.44%)
June: 10,603 (-18.99%)
July: 10,423 (-23.79%)
August: 10,701 (-24.10%)