Toyota Kirloskar Motor sells 23,300 passenger vehicles in February, up 52% YoY

Toyota Kirloskar Motor has reported record monthly wholesales of 23,300 passenger vehicles in February 2024, which constitutes strong 52% year-on-year growth (February 2023: 15,323 units). This is 103 additional units over January 2024’s 23,197 units and is the best monthly performance in the fiscal year to date. 

Combined with exports of 1,920 units, February 2024’s 25,220 units are the car and SUV manufacturer’s highest ever monthly wholesales yet, after January’s combined domestic and export sales of 24,609 units.

TKM has registered a monthly dispatch record of 23,300 passenger vehicles in February 2024, bettering January 2024 wholesales by 103 units. 

On the cumulative wholesales front in the domestic market, TKM has despatched 219,821 units, a jump of 42% YoY (April 2022-February 2023: 154,798 units) in the first 11 months of the ongoing fiscal. TKM has already surpassed its FY2023 sales of 173,245 units and, with one month left for FY2024 to come to a close, it could wrap up this fiscal at around 239,000-odd units.

In CY2023, 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.

One such initiative rolled out last month is the ‘Awesome New Car Delivery Solution’ rolled out by TKM's authorised dealers. This sees the deployment of flat-bed trucks to transport new vehicles from dealer stockyards directly to sales outlets, which means the PVs arrive in pristine condition, untouched by road travel. This approach, as per the company, not only elevates the customer's experience but also addresses the logistical challenges in rural and semi-urban areas.

Commenting on the February 2024 wholesales, Sabari Manohar – Vice-President, Sales-Service-Used Car Business, Toyota Kirloskar Motor said, “With this month recording the highest monthly sales, we continue to witness rising demand coupled with good customer enquiries from across the regions. Notably, the SUV and MUV models are at the forefront of this demand surge, with the Innova Crysta, Innova Hycross, Fortuner, and Legender maintaining their leadership positions and significantly contributing to our growth story. Recently, the Innova Hycross set a remarkable milestone, clocking sales of over 50,000 units since its launch in November 2022, underscoring our focus on offering customers a choice of vehicle that fits their lifestyle and needs.”

He added, “We have begun the year with high optimism, we look forward to adding value and ensuring sustained market performance by fulfilling customer expectations with high-quality vehicles to meet the dynamic needs and evolving preferences of our customers. Continuing the momentum, we are confident that this trend will persist throughout the year propelled by the growing demand from tier 2 and tier 3 markets and ever-growing infrastructure which is creating newer opportunities."