Company is correcting inventory levels to liquidate stocks by December and make a smooth transition to BS VI.
Toyota Kirloskar Motor (TKM) registers double digit growth in customer orders in November 2019 as compared to the same month last year which had Diwali. The company has been doing pipeline correction to liquidate stocks by December and work towards smooth transition to BS VI.
Commenting on the sales performance, Mr. N. Raja, Deputy Managing Director, Toyota Kirloskar Motor, said: “We have consciously lowered the volume of vehicles sold to dealers to ensure lean inventory/avoid high market offers, we are adjusting our production to ensure we do not put any excess burden on our dealerships before the shift to BS 6 in April 2020.
Positive sentiments in the market has continued to November 2019 which has reflected in the spike in customer orders across all models. The boost in customer orders for all models has sustained this month even after the end of festive season. Customers are aware of the model year price rise in January and the significant price hike of diesel vehicles by 15-20% post BS VI transition. This pre-buying pull of BS IV vehicles has helped us in pushing retail sales and also enabling successful runout of products before shift to BS VI.
“In line with our customer first approach, we are readjusting the production plan to be able to match our supply to the increased customer demand. Thanks to our loyal customers for their relentless trust and confidence in Toyota products, there has been a marked improvement in retail sales (sold to customers) as compared to wholesales (sold to dealers) this month. We hope this pace in retail sales continues to year end,” Mr. Raja said.
Toyota Kirloskar Motor sold a total of 8,312 units (sales to dealers) in the domestic market this month of November 2019. The company exported 929 units of the Etios series this month thus clocking a total of 9,241 units. Toyota Kirloskar Motor sold a total of 10,721 units in the domestic market in the same period last year. The company exported 669 units of the Etios series in November 2018.