Thanks to GST, which has resulted in a decline in the prices of big cars like the Toyota Innova Crysta and the Toyota Fortuner – Toyota Motors India has registered a huge sales growth for the month of July 2017.
GST, or Goods and Service Tax was introduced by the Govt. of India on 1st July 2017. This slashed price of Innova Crysta to the tune of INR 1.35 lakh and that of Fortuner by INR 2.68 lakh. Those who had waited for the GST implementation, went all out to buy their favourite car, and has resulted in a boom for car sales in the segment.
For July 2017, Toyota Innova Crysta registered sales of more than 9,300 units – its highest ever. While, the Fortuner registered sales of 3,400 units. These are almost the double the number of units Toyota sells in India on average every month.
Commenting on the monthly sales, Mr. N. Raja, Director & Sr. Vice President, Sales & Marketing, Toyota Kirloskar Motor said, “ We are thankful to the Government for the biggest indirect tax reform of the nation, which has helped us maintain the double digit growth this month. Last month, putting the dealers need ahead we had consciously taken the decision to lower the volumes of vehicles sold to the dealers. We wanted to ensure that there is minimum burden on our dealer partners of any differential tax post GST. However, we are delighted that with dedicated efforts from all our stakeholders we have been able to achieve the milestone of best ever July sales.”
The company also exported 1723 units of the Etios series this month. Toyota Kirloskar Motor had sold 12404 units in the domestic market and exported 1,344 units of the Etios series in July 2016.
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