Toyota has continued its growth trajectory in the month of October 2023. With the festive push in sales, the OEM has reported dispatch of 21,879 units, representing a commendable growth of 66% compared to the same month of last year.
Toyota Kirlosakar Motors said on Wednesday that October 2023 has been yet another month of strong performance in terms of sales for the firm. They managed to register a sales figure of 21,879 units, which includes 20,542 units in the domestic market and 1,337 units for exports. In comparison, the company sold 13,143 units in October 2022. This results in a year-on-year growth of 66%.
From January to October 2023, the company sold 1,92,661 units, a 40% increase over the previous year's total of 1,38,190 units sold during the same period. Similarly, Toyota achieved sales of 1,45,818 units in the first seven months of fiscal year 2023, compared to 1,04,986 units in FY'22, representing a 39% increase in 2023.
However, if we compare Toyata’s sales for the month of October 2023 with those for September 2023, which were 22,168 units, the OEM has registered a degrowth of 7.33 percent (MoM) in the domestic market.
Commenting on the sales momentum, Mr. Atul Sood, Vice President of Sales and Strategic Marketing at Toyota Kirloskar Motor, said, “This year, the offtake of the festive season has been very strong for both TKM and the industry. In the month of October’ 2023, we reported sales of 21,879 units, which were mainly driven by the festive season push along with the strong market acceptance of the entire product line-up, resulting in higher volumes.
Toyota’s portfolio has primarily been dominated by the full-size SUV Fortuner and MPV Innova, but in the past couple of years, it has added a range of high-selling compact SUVs and hatchbacks to its portfolio, sourced from its global partner Suzuki.
Products like Glanza, Rumion, Hyryder, and Innova Hycross have garnered great demand. The growing demand has been facilitated by the expanded production capacity achieved through three-shift operations, enabling TKM to meet the rising market demand.
TKM is celebrating its 25th anniversary in India this year, and the company is committed to improving customer convenience, distribution, and accessibility as part of its customer-centric approach.
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