Toyota Kirloskar Motor India has registered the sale of total 11,284 vehicles in the month of February 2014 as compared against the sale of 13,979 vehicles during the same month in 2013. The reduced number of vehicles sale during the last month has accounted for a decline of 19.27 percent in the company’s overall monthly sales.
The Japanese car major managed to sale only 10,100 units in the domestic car market of India last month as compared against the sale of 12,756 vehicles during the same month in the year 2013. The company managed to export a total of 1,184 units of the Etios series that comprises of the Etios sedan and the Etios Liva hatchback in the month of February this year.
The Senior Vice-President of Sales and Marketing at TKM, N. Raja said that the excise duty deduction by the government of India during the interim budget was a welcome step of the Indian Government in order to revive the country’s car industry. However, there are several other factors also that are responsible for the lengthy car market slump. Factors such as high interest rates on car loans, plummeting valuation of the Indian currency and increasing fuel pricing are still causing high trouble and making the Indian car market stay in a slumped situation.
World’s automotive leader Toyota’s Indian presence in the form of the joint venture of Toyota Kirloskar Motor has been facing slow sales even since the Indian car market went under the effect of slowdown. The company has two plants in the country, both of which are located in the state of Karnataka. The first plant of TKM is responsible for manufacturing the company’s bestsellers Innova and the Fortuner vehicles, while the second car plant that is located on the suburbs of Bangalore is responsible for manufacturing the Etios, Etios Liva, Corolla Altis, the Camry as well as the Camry Hybrid vehicles. The company’s other products for the Indian car market that includes the Prius Hybrid, Prado and the Land Cruiser are directly imported as CBU or Completely Built Units.
Toyota Kirloskar Motor is looking at boosted sales rates post the reduced price range of all its vehicles that the company is offering post the excise duty reduction in the month of February this year. The company is also trying to push its sales by launching new products in the market.
Toyota India has recently launched the Etios Cross in the Indian car market at the recently held 2014 Auto Expo, where the all new Corolla Altis was also launched. Both the car models are expected to hit the Indian car market soon as the pre-market launch official bookings have opened for both the car models.
The first among these two cars to hit the Indian car market will be the Etios Cross, following which the more alluring looking ne Corolla Altis will also arrive the Indian market soon enough. Hope that these two new car models help the company with better sales rates.
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Tagged: Toyota Car Sales
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