- Surge of 66% Y-O-Y growth spurred by the ongoing festive season with the demand trend continuing to grow.
- Reports 40% growth in the first 10 months of CY 2023
Toyota Kirloskar Motor (TKM) today reported yet another month of strong performance with the sales of 21,879 units indicating a sharp rise of 66% in comparison with October 2022, when the sales stood at 13,143 units. The company sold a total of 20,542 units in domestic market and exported 1337 units.
The healthy growth pace for TKM has continued through the year. The company recorded a significant increase in terms of Calendar Year performance for the period January–October by selling 1,92,661 units as compared to 1,38,190 units sold during the same period last year, thus demonstrating a substantial 40% increase in 2023. Similarly, in the first 7-months of the FY'23, TKM has accomplished an impressive sale of 1,45,818 units as compared to 1,04,986 units sold in FY’22 indicating a growth of 39% in 2023. Furthermore, the enhanced production capacity through three shift operations has strongly enabled TKM to meet the ever-growing market demand.
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 festive season has been very strong for both TKM and well as the industry. In the month of October’ 2023, we reported our sales of 21,879 units which is mainly driven by the festive season push along with the strong market acceptance of the entire product line-up, resulting in higher volumes.
For us sustained growth has been coming from across every segment where Toyota has its presence. This upward pattern is resulting in TKM delivering consistent results with fresh bookings remaining strong. Further to models such as the Urban Cruiser Hyryder, Innova Hycross, Hilux, the recent additions of the All New Vellfire and the All New Rumion, have contributed to the positive booking trend. TKM has maintained its segment leadership with models like the New Innova Crysta, Fortuner, and Legender. The Camry Hybrid and Glanza also continue to be significant contributors to the company’s overall success. To further offer greater value to customers this festive season, we also rolled-out several attractive service benefits and exciting offers across our dealerships to further enhance the customer delight.
This year marks TKM’s 25 years of remarkable journey in India, our efforts continue to be strongly focused towards providing greater customer convenience through enhancement of distribution network and improved accessibility to the entire product line-up thus reiterating our customer centric approach and our constant efforts to get closer to our customers. Given strong market sentiments around Diwali, we remain confident of a very buoyant performance in the coming months as well.”
The month of October also witnessed another successful culmination of 'Great 4X4 Expedition by Toyota’, in the East region after having completed thrilling zonal 4X4 SUVs experiential drives in South, West and North regions. This event served as an exceptional platform to highlight the remarkable capabilities and performance of our 4X4 SUVs, increasing their visibility and appeal.
In addition, the popularity of Toyota’s iconic Hilux also continues to soar as a tough, versatile, and reliable vehicle meant for varied travel requirements. Besides, already marking a significant milestone by joining the fleet at the Indian Army earlier this year, the Hilux was also a part of the Eastern Naval Fleet Drive 'The Eastern Arc,' organized by the Eastern Command of the Indian Navy covering 17 cities and spanning approximately 6000 kilometres over 12 days along the East Coast of India. Besides the Hilux, the formidable Fortuner was also a part of the rally that traverses the challenging terrains and rugged off-road routes across various remote locations through the diverse and vibrant landscapes of India's eastern region.