Commenting on the monthly sales, N. Raja, Deputy Managing Director, Toyota Kirloskar Motor said, “Fluctuating exchange rates, rising fuel costs and high interest rates have impacted the consumer sentiment in auto industry. Consumer demand has witnessed a downward trend over the festive period as compared to same period last year. We are trying to maintain lean inventory at dealership to avoid stock pileup. Festive season has not been able to usual spur in customer demand.
With the new year around the corner, we hope there will be a positive momentum in the buying sentiments ensuring growth in year-end sales. We would like to extend our gratitude to our loyal customers who have been appreciating our products time and again.”
Toyota is considering a price increase of upto 4% across models with effect from 1st Jan 2019 owing to continued pressure of high manufacturing costs.