Toyota reports high YoY sales growth for May 2022 on the back of low base sales; MoM sales decline
Toyota India reports sales of 10,216 units in May 2022. Growth is substantial considering the manufacturer reported May 2021 sales at a mere 707 units. YoY volume growth is reported at just over 9.5k units. MoM sales are down by almost a third. Sales fell from 15,085 units sold in April 2022. Volume loss is reported at 4,869 units at 32.28 percent decline.
A year earlier, the country was battling a fierce wave of Covid-19, and sales that month reflected the same. The impact was larger than life, but a year later, things look upbeat and perky. Toyota cars on sale in India include – Innova, Fortuner, Glanza, Urban Cruiser, Camry, Hiluz and Vellfire. They will soon launch a new SUV to take on the Creta.
Toyota Sales May 2022 – YTD
For 2022, TKM has already had a few good months. January to May 2022 Moreover, cumulative wholesales already stand at 16 percent growth over the same months in 2021. MoM, wholesales are beginning to reflect levels seen in pre-Covid times in 2019.
Positive sales trends bode well for the auto industry. Impact of Covid-19 slowdown has been tougher on some industries, compared to others. The auto industry was one such space. Rules meant production came to a standstill before being renewed in a phased manner. Concurrently, all sales stopped for a matter of weeks. While recovery has a major focus at the start of 2021, a subsequent Covid-19 wave meant those efforts were thwarted.
Toyota New SUV
Following long periods of uncertainty, 2022 appears to be a much more favourable period as far as uninterrupted production is concerned. However, the industry has in recent months been adapting to a global chips shortage. A situation that has impacted manufacturing in varying capacities.
Given the global crisis of war and health, market situations are being closely monitored. On the product front, a New SUV is the next launch expected from TKM. With a product sharing arrangement between Maruti and Toyota, their product launches are aligned predictably. That is close on the heels. Once updates to the new Brezza are made public this month, Toyota will soon show its new Urban SUV.
Encouraging booking orders
Atul Sood, Associate Vice President, Sales, and Strategic Marketing, TKM said, “Demand continues to peak as we have very encouraging booking orders and enquiries for all our models. The cool new Glanza has received an overwhelming response from our customers as it is their trust and faith in the brand that helps us perform better.
Segment leading models like the Innova Crysta and the Fortuner continue to perform well and generate healthy booking orders. The Camry Hybrid and the Vellfire, continue to garner strong demand and our focus going forward would be to meet the immediate needs of our customers.”