Toyota Kirloskar Motor (TKM) managed to sell a total of 10,203 units in the Indian market last month. Along with it, the Japanese manufacturer exported 708 units in September 2019 taking the cumulative tally to 10,911 units. The automotive industry is riding on a rough patch since the beginning of this year as volume sales have reduced drastically.
It affected all brands including Toyota and the comparison against September 2018 gives a clear idea of how it has stacked up. During the same month last year, Toyota garnered 12,512 unit sales and it led to YoY sales drop of 18 per cent. As for the exports, Toyota recorded 142 fewer units compared to September 2018 as well.
Totally, the YoY sales stood at 17 per cent negative growth for Toyota last month. Speaking on the performance of sales, N. Raja, Deputy Managing Director, Toyota Kirloskar Motor admitted that the consumer sentiment continued to be in a subdued state through September 2019 but he expects a turnaround ahead of the festive season.
With Diwali just around the corner, Toyota expects to see a revival in consumer demand. To make sure that the customers stay attracted, Toyota is offering big discount deals across its portfolio and even for the top-selling Innova Crysta and Fortuner. Recently, the brand introduced Fortuner TRD Celebratory Edition and updated Yaris.
Moreover, the recent announcement by the Finance Minister to reduce the corporate tax rate from 30 per cent to 22 per cent along with liquidity improvement and MAT rate reduction from 18.5 per cent to 15 per cent to stabilise fund flow into capital markets are expected to help the brands in improving their sales fortunes.
Toyota also stated that the orders have been slightly encouraging due to Navratra. The company is banking big on rebadged products supplied Maruti Suzuki into the near future while a C-segment MPV is also in the pipeline for arrival and it could be positioned below the Innova Crysta.
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