For August 2024, Toyota Kirloskar Motor (TKM) recorded a 35% increase in car sales compared to the same month, last year, defying the trend and recording strong growth. During the period, the car manufacturer witnessed an increase in sales, thanks to its well-liked MPVs and SUVs, such as the Innova Hycross and Urban Cruiser Hyryder. Toyota increased its monthly sales from 22,910 units in August last year to 30,879 units last month. The company has also disclosed how the recent increase in its sales has been mostly because of rebadged Maruti Suzuki vehicles, such as the Glanza, Rumion, and Urban Cruiser Taisor.
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Although its sales increased year-on-year (YoY), Toyota suffered a slight month-on-month (MoM) sales decline from July this year, when it sold 31,656 passenger cars – a record for the Japanese automaker since it entered India in terms of monthly sales. The carmaker has sold over 2.12 lakh units in the country since the beginning of the year. In comparison to the same quarter last year, Toyota sold 97,867 cars between April and July this year, indicating a 35% surge in sales.
While the majority of the auto sector is experiencing a decline in overall demand, Toyota believes that the festive season will help in bringing back things on track. Sabari Manohar, Vice-President of the Sales-Service-Used Car Business, at Toyota Motor, said, 'As we approach the festive season, demand for our products remains buoyant, and we are already witnessing increased consumer interest and higher footfall across all our dealerships.' Additionally, he stated that the company's SUV and MPV range is witnessing a boost in sales because tier-2 and tier-3 markets prefer these two model categories.
Out of all the on-sale Toyota models, the Innova Hycross hybrid MPV is the most in-demand, particularly the potent hybrid version. Toyota reopened reservations for the ZX and ZX (O) models with self-charging powerful hybrid electric powertrains this year after putting them on hold for a few months. Commenting on the market demand and waiting period, Manohar said, 'With streamlined production and an enhanced supply chain, we've successfully reduced the waiting period, allowing us to commence bookings for the top-end grades. Additionally, an increased supply of Urban Cruiser Hyryder has also enabled us to meet the market demand leading to a reduced waiting period.'
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In the most recent quarter, Toyota also witnessed an increase in sales of its Maruti-rebadged cars. The automaker said that between April and July, models such as the Urban Cruiser Hyryder, Urban Cruiser Taisor, Glanza, and Rumion accounted for almost 50% of its total sales. Of these four, the Glanza and Urban Cruiser Hyryder continue to be the two best-selling models.
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