Toyota Kirloskar Registers 40% Sales Growth in July
After close to five months of almost-halted economic activity, auto companies are witnessing some level of positive growth. Automobile manufacturer Toyota Kirloskar Motor reported a 40 % growth in wholesales in the month of July compared to June 2020.
Accordingly, the company sold a total of 5,386 units in July 2020, from an off-take of 3,866 units in the first-month post unlock in June.
On a year-on-year basis, it had sold a total of 10,423 units in the domestic market in July 2019 and exported 868 units of the Etios as well.
Commenting on the month’s performance, 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 and extensions being imposed in several parts of the country, led us to a situation wherein our business was closed up to 20 per cent of the market, in and around mid-July. It was due to the rest of the 80 per cent 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.”