Announces its entry into the dynamic compact SUV segment in India this festive season
Toyota Kirloskar Motor (TKM) announced that the company sold a total of 5,386 units in the month of July 2020, thereby registering a 40% growth in wholesales when compared to June 2020. The company had clocked a total of 3,866 units in the first month post unlock in June. For reference, the company had sold a total of 10,423 units in the domestic market in July 2019 and had exported 868 units of the Etios as well.
Commenting on the month’s performance, Mr. Naveen Soni, Sr. Vice President, Sales & Service, TKM, said: “Despite various challenges, the month of July witnessed better sales in terms of both retail and wholesales when compared to June. The first month post unlock (June) witnessed demand rekindling and retails being very good due to several factors including pending customer orders as well as pent up demand accumulated as a result of the extended lockdown. However in July, as a result of sporadic lockdowns & extensions being imposed in several parts of the country, lead us to a situation wherein our business was closed upto 20% of the market, in and around mid-July. It was due to the rest of the 80% of our business that has helped us close the month with a higher than June retails. Similarly, the lockdown called upon Bangalore also caused us to temporarily shutdown our plant for 4 days last month as a result of which we produced less than the numbers we had planned. At TKM, we fully understand and appreciate the balancing act by the Government in addressing health threats and we will continue to adhere to the guidelines issued by the authorities. However, timely and clear instructions will help industrial units, better plan their production cycles and logistics including workforce and raw material movement”.
The company also announced its foray into the very dynamic compact SUV segment this festive season along with its upcoming compact SUV. As customers have more to look forward to, from the brand, TKM has further ramped up production at its factory in Bidadi, Karnataka.
“We intend to catch up on both retails and wholesales beginning the festive month of August. Moreover, we are very excited to announce our foray into the very dynamic compact SUV segment this festive season. We are aware of the expectations our customers have from the brand and fulfilling their expectations and catering to their mobility needs has always been our most important objective”, he concluded.