Toyota India maintains strong growth in May: 23,979 units, up 26%

Toyota Kirloskar Motor is firing on all cylinders. In May 2024, the Japanese car, SUV and MPV manufacturer has continued with the strong growth it has displayed over the past year and more.

Last month, the company dispatched 23,979 units, which marks strong 26% year-on-year growth (May 2023: 19,079 units). What’s more, TKM’s month-on-month increase is also a good one at 28% over April 2024’s 18,676 units. And for the first five months of CY2024, cumulative wholesales (including exports) of 122,776 units constitute a notable 48% increase YoY (January-May 2023: 82,763 units).

Combined sales for the first two months of FY2025 at 42,655 units constitute a 60% YoY increase (April-May 2023: 32,975 units), indicative of the rapid pace of demand TKM is witnessing in the competitive marketplace.

Commenting on the strong performance in May 2024, Sabari Manohar, Vice-President, Sales-Service-Used Car Business, Toyota Kirloskar Motor said, “We continue to post double-digit growth in May 2024. Our unrelenting customer-centric approach has inspired us to stay ahead of the curve by understanding the diverse needs of our customers and offering a diverse array of products and services. We will continue to energize our customer-centricity by enhancing touchpoints and curating innovative value-added services aimed at creating delightful ownership experiences.”

 TKM is now banking on the recently launched Urban Cruiser Taisor to bring in additional sales numbers. According to Manohar, “The feedback from the customer (for the Taisor) has been overwhelming with demand coming from all parts of the country. It is available in three engine options 1.0L Turbo, 1.2L Petrol and E-CNG options. Additionally, the Taisor is backed by renowned Toyota’s value-added services, specially designed with Indian customers in mind.”

It may be recollected that FY2024 was the best-ever fiscal for TKM with India market sales of 244,940 units and 41% growth. This bettered the company’s wholesales in CY2023 where TKM registered its best-ever annual sales – 221,356 units – as a result of sustained demand for its MPVs and SUVs as also the rebadged models like the Glanza, Urban Cruiser Hyryder and Rumion, ramped-up production and a number of customer-friendly initiatives.