Toyota India sales in April 2022 reported at YoY growth at 57.14 percent; MoM sales decline
Recent weeks have seen Toyota Kirloskar Motor (TKM) on an uptick. In April, the company announced cumulative sales in India surpassed the 2 million (20 lakh) units mark since the start of business.
Toyota Sales April 2022
Toyota Motor India continues to stride forward on a growth path. Sales in April 2022 surpassed the 15k unit mark. Sales are reported at 15,085 units, up from 9.6k units. Volume growth stood at 5,485 units at 57.14 units.
On the other hand, Toyota India MoM growth declines. Sales fell from 17,131 units. Volume decline stood at 2,046 units at 11.94 percent decline. The month earlier, Toyota India had reported its highest sales in 5 years.
Mr. Atul Sood, Associate Vice President, Sales, and Strategic Marketing, TKM said, “Demand continues to peak in the new Financial year, as we close the month of April with an overall growth of 57% over wholesales in April 2021. Along with the Crysta, Fortuner and the Legender, the Camry Hybrid too has received very encouraging booking orders. The response to the ‘Cool new Glanza’ has also been Awesome and has done very well since the beginning of its deliveries starting March this year, right from Tier I cities to rural markets.”
Toyota Price Hike May 2022
Wef today, i.e., May 1, 2022, TKM has put in place a price revision for its MY22 Toyota Urban Cruiser and Toyota Glanza. The price hike is necessary in partially offsetting input price increase. While such costs continue to rise, in keeping with fair price policies, efforts are attuned to minimise impact on customers. The current price revision announcements have been conducted in a phased manner.
Earlier in April 2022, Toyota Innova Crysta and Fortuner price tags were revised in the range of 36k – Rs 1.2 lakh depending on model and variant. MY22 Toyota Glanza was launched in mid-March. As such, the current price revision comes into effect within a few short weeks since launch. MY22 Urban Cruiser launch is awaited.
Toyota and MSIL
While Toyota has over time built a reputation in the serious SUV segment here, its arrangement with Maruti Suzuki here has opened up new avenues of business progress in recent years. The proposition is strengthened by Toyota selling rebadged Maruti Suzuki cars. This in small car segments where Toyota India does not have a product.
With small cars having a much larger market share in India, the association with MSIL helps Toyota compete in these segments. With the smaller cars having a smaller entry price point, the company is able to tap into a new customer base. Toyota Urban Cruiser and Glanza are manufactured by MSIL and sold to TKM. Soon, Toyota will launch a new SUV to rival Creta, Seltos.