Toyota Sets Twin Sales Records in India with Fortuner and Innova Continuing to be Popular Choices

In a recent development, Toyota Kirloskar Motor (TKM) announced a significant milestone in its sales performance, with a remarkable 25 per cent growth in wholesales in March, selling 27,180 units. This growth includes business in the domestic market as well as through exports.

TKM reported an exceptional growth of 48 per cent in the FY2023-24 period, with wholesales peaking at 2.65 lakh units. This marks a substantial increase from the previous financial year when the company sold 1.77 lakh units. Furthermore, in March alone, the company witnessed a month-on-month growth of 25 per cent in wholesales, with figures rising from 21,783 units to 27,180 units.

Toyota’s success can be attributed to the continued popularity of models like Fortuner and Innova Crysta, along with its customer-oriented approach to business. Sabari Manohar, Vice President of Sales-Service-Used Car Business at Toyota Kirloskar Motor, highlighted the company’s commitment to understanding diverse customer needs and market trends to deliver quality products and services across segments.

Looking ahead, Toyota faces challenges in the Indian automotive market as sales are expected to stabilize post the Covid-19 restrictions. Despite the semiconductor shortage issue being resolved and production returning to normal levels, Toyota recently announced a price hike on select models from April 1. The decision was attributed to increasing input costs and operational expenditures, with the price hike estimated to be around one per cent.

As Toyota continues to focus on meeting consumer demands and delivering strong offerings in India, the company’s performance in the market remains crucial in navigating the dynamic landscape of the automotive industry.