While major auto companies registered slow growth during the month of March, Toyota Kirloskar Motors saw sales increase to the tune of 7%. Sales in domestic markets during the month stood at 19,452 units as compared to 18,220 units sold in the same month of the previous year. Exports during March 2013 stood at 1,691 units thereby taking total sales during March 2013 to 21,143 units.
This increased growth in a slowing market was primarily due to higher customer acceptance where Toyota new models of Etios and Etios Liva were concerned. Of both these models, the company sold a total of 8,637 units in March 2013. Enhanced sales were also seen in the case of Innova and Fortuner while Union Budget’s new excise duty increases coming into effect from 1st April 2013 also enabled the company to clear stock of SUVs at pre budget prices.
Sandeep Singh, Deputy Managing Director and Chief Operating Officer, Marketing and Commercial said, “Despite the slow demand in market, we have registered a growth. This growth can be mainly attributed to high customer acceptance of the New models of Etios and Etios Liva, launched recently. The Etios and Etios Liva sold 8,637 units in March. The sales of Innova and Fortuner have also contributed to this growth. On the other hand, increase in excise duty of SUV’s and implementation of increased road tax in some of the states has helped clear the stock of pre budget vehicles. The market continues to be slow, and is expected to remain sluggish in the coming months”.
Markets are in slow mode and likely to remain so in the month ahead where Indian markets are concerned. The sales story across Chinese markets during the month of March also saw the same results. Sales in China were down 11.7% during March 2013 as figures stood at 75,900 units. The YTD sales stood at 184,700 units, a drop of 12.7% as compared to sales in the same period of the previous year. Toyota could remain optimistic of the scenario changing following launch of the GT 86 where it will be prices at ¥269,000 ($43,250, loosely equates to Rs 23,47,610).