Toyota reports domestic wholesales of just over 15k units in March 2021, its highest in 8 years
Wholesales in March 2021 sees Toyota India in the green. Units are reported at just over 15k, at more than double on a YoY basis. March 2021, figures have grown to 15,001, up from 7,023 units. At 113.60 percent growth volume growth is reported at just under 8k units. In fact volume growth of 7,978 units is more than the number of wholesales reported a year earlier at over 7k units.
Wholesale trends in the last quarter of FY21 appear to be holding up. In February 2021, wholesales were reported at 14,075 units. MoM volume growth is reported at just below a grand. At 926 units MoM volume growth, sales growth is reported at 6.58 percent.
Business limitations 2020
For Toyota, Q4 FY21 helped hammer in 73 percent growth over the corresponding quarter. March 2021 domestic sales has been the highest since March 2013. Following a slow start in FY21 owing to Covid-19 pandemic related lockdown limitations, factories and industry wide activity came to a standstill towards 2020 March end.
Following this, no activity was reported in April. Businesses were able to open their doors again through May 2020, and from thereon began the quest to gradually reach pre-Covid business activity levels.
The journey was a long one. Market situations saw most businesses post favourable sales in the last quarter of 2020. Momentum was continually helped by the festive season, which is traditionally a period of high sales in the country. Furthermore, demand and consideration software personal mobility helped improve business sentiments. The uptick then spilled over to the quarter just concluded.
Highest domestic sales in 8 years
Naveen Soni, Sr. Vice President at TKM said, “We have been able to sustain the growth momentum as we closed the last quarter registering a 73% growth in domestic sales, when compared to the sales in the corresponding period last year (Jan- Mar 2020).
In fact, last month witnessed the highest ever domestic sales in the month of March since 2013, helping us clock 114% growth over wholesales compared to March 2020. Our sales performance in the last quarter proved to be better than the sales in the festive season of the third quarter (Oct- Dec 2021), clocking a growth of 42%.”
The company attributes growth to demand in personal mobility. TKM reports surge in both enquiries, and customer orders. Brand popularity has been further enhanced following the launch of new Innova Crysta, and Fortuner and Legender.
