Toyota Kirloskar Motors said it has crossed the two million sales milestone in India since beginning production in 1999. The two-millionth car to be sold was a Glanza delivered to a customer in Kerala.
Atul Sood, associate vice president, Sales and Strategic Marketing, Toyota India, said, “Over the last two decades, Toyota has developed a solid foundation of renowned quality, durability and reliability and we hope we will be able to cater to more segments as well as newer markets in 2022 and beyond.”
The company sold close to 123,000 units in FY22 and its share of the Indian market accounting for 4.03 percent of the market, up from 3.43 percent in FY21. The Innova sold about 54,000 units in the year according to figures released by SIAM. Earlier this year, Toyota’s rebadged Maruti models, the Glanza and Urban Cruiser, crossed the 1 lakh sales milestone.
At present, Toyota has two manufacturing plants set up in India, both at Bidadi, with a combined capacity of 3,10,000 units per year. The company currently has 419 dealerships and service centres spread across the country.
Toyota will soon launch the updated Urban Cruiser and a new Creta-rivalling midsize SUV which is being co-developed with Maruti Suzuki. The alliance with Maruti was announced in 2017 and has been the best news for Toyota which is largely associated with the Innova which has helped it carve a niche for itself and establish it as a strong brand and bringing in the numbers for the company.
Toyota’s earnings may fall in 2023 due to high material costs