Toyota India reports YoY growth for domestic wholesales in September 2021, MoM sales decline
Toyota Kirloskar Motor announced total wholesales at 9,284 units in September 2021, thereby registering growth of 14.39 percent. Domestic sales in September 2020 was pegged at 8,116 units. Volume gain stood at 1,168 units. MoM sales decline stood at 27.31 percent, down from 12,772 units. Volume decline stood at 3,488 units.
Cumulative wholesales of TKM from January to September 2021 stands at 94,493 units, up from 47,743 units sold in the same 3 quarters in 2021. This comes on the back of weak sales for two-thirds of the period in consideration owing to Covid-19 pandemic effects on production and sales.
Sales growth for the period is reported at 98 percent. As sales for the new month begin today, customers would have to bear a steeper price tag. This comes following a price hike announcement made earlier in the week. The decision comes to correct some of the impact borne by manufacturers on account of continued increase in input costs.
Toyota’s Maruti Car Sales
Maruti Suzuki, the biggest manufacturer in domestic shores finds itself severely impacted. In September 2021, the company sold 2.4k units to Toyota India, down from 2,568 units YoY. Toyota recently announced that it has stopped selling its Yaris hatch.
V. Wiseline Sigamani, Associate General Manager(AGM), Sales and Strategic Marketing, TKM said, “Demand in the personal mobility segment continues as we step into the festive months. Customer orders have been on a constant rise and we are witnessing a steady growth, ever since the second wave.
The Crysta and the Fortuner continue to dominate their respective segments, both garnering huge customer interests and orders. All other segments have also attracted good traction from customers and we are very excited to cater to all such personal mobility needs of our customer, this upcoming festive season.”
Chips/parts shortage
Taking a closer look at personal mobility segments continues to offer little nuggets of market behaviour. With cars being a purchase that helps customers tide over a few years, they are decisions made to last that duration. Preference for personal vehicles continues to remain strong following Covid-19 pandemic effects. However, current chips/parts shortages continues to plague manufacturers.
Over the years, Toyota’s big UVs have been very well received by customers, ensuring continuous traction to its total domestic sales. TKM expects this trend to continue as the festive season approaches with people looking for more convenient commuting solutions. But there’s no denying there’s a real and present shortage of parts/chips that lurks.
