Toyota Kirloskar Motor sees 12% retail sales growth on Dhanteras

Toyota Kirloskar Motor, which sold 12,373 units in October which is 4.27% year-on-year growth and its best results in recent months, has reported a 12% YoY increase in sales on Dhanteras yesterday. Dhanteras is celebrated across India and is seen an a good occasion to purchase a new vehicle, among other things.

Commenting on the company’s sales on Dhanteras, Naveen Soni, senior vice-president, Sales & Service, Toyota Kirloskar Motor, said: “We are witnessing a gradual but steady recovery over the last few months and this can be attributed to a few factors including, pent-up demand from the last few months, festive demand that has contributed to the overall sales in the month of October and November, consolidation of the market at the lower end due to personal mobility issues and finally, the kind of offers and schemes that OEMs have been offering to customers to push demand.”

“The first two factors being topical are bound to gradually taper down, beginning next month. We have already witnessed a decrease in demand created due to pent-up demand from 36% in the earlier months to around 20% last month.Similarly, festive demand will also last till about the end of this month. Therefore, what is more prone to sustain are factors like consolidation of the market at the lower end due to personal mobility issues and the variety of schemes and offers that OEMs can come up with.

“For Toyota Kirloskar Motor, sales and customer orders this festive season have seen a 10%-13% increase in order taking this year on Dhanteras when compared to the same period last year. Dhanteras in 2020 has been celebrated over two days in various parts of the country and hence in terms of retail sales (dealer’s sale to customer) also, we have witnessed a 12% growth when compared to Dhanteras in 2019. We are hoping that sales in November will be more bullish when compared to October sales.”

TKM is undertaking a number of measures to reach out to customers. On October 29, the carmaker opened its first regional stockyard in Guwahati. This facility will help to further reduce delivery time from the current 13 days to a maximum of two days for furthermost dealers in the Northeast states.