Toyota India reports growth in domestic wholesales by more than a third in February 2021
Toyota Kirloskar Motor finds itself steadying the ship and staying ahead of things as the current fiscal draws closer to an end. In January and February, Toyota has reported wholesales above 10k units. In fact, last month, the company was closer to 15k units than 10k units.
The last time Toyota India reported similar sales was back in August 2018 when wholesales were reported at 14,138 units. It’s taken a range of launches over 30 months (2.5 years) to replicate a stellar showing. For February 2021, domestic wholesales is reported at 36 percent growth. MoM domestic growth stood at 27 percent over wholesales reported in January 2021.
Maruti cars at Toyota
In Feb 21, TKM sold 14,075 units, up from 10,352 units in the domestic market in February 2020. YoY volume gain stood at 3,723 units at 35.96 percent growth. In January 2021, TKM sold 11,126 units. MoM volume gain stood at 2,949 units at 26.51 percent.
Maruti has reported sales to TKM at 5.5k units. MSIL reports growth in the category at 103.8 percent, up from 2,699 units sold a year earlier. Seeing current sales, it’s likely Toyota’s in-house vehicles are again leading the charge rather. Unlike recent months wherein Toyota sold more cars that were made by Maruti.
Toyota’s SUVs steady growth
Known for its SUVs, recent new launches in its core segments have been able to provide the push Toyota would have anticipated. Considering Fortuner and Legender were launched only in January, some of the current sales momentum could be attributed directly to bookings for these cars.
Depending on market reception, the next few months will dictate just how well both cars have been received. Current market reception has helped enliven the manufacturer’s appeal. First month bookings were reported at 5k units.
Naveen Soni, Sr. Vice President at TKM said, “We started the year on a positive note and the trend continues as we close the second month of the year, clocking a growth of 36%. Wholesales have been very encouraging and we are witnessing a high influx of customer orders month on month, thereby both significantly contributing to the growth story.
In fact, sales in February have been better than sales in January, thus helping us register a 27% growth in wholesales. Moreover, new launches like the new Fortuner & Legender introduced in January and the new Innova Crysta launched in November 2020, have received a phenomenal response and have also been contributing to significant increase in both customer enquiries as well as customer orders. Here, we would like to thank our customers for their relentless trust & faith in the brand”, he concluded.