TKM says electrified vehicle technology to be key trend setter for 2024

Toyota Kirloskar Motor expects electrified vehicle technology to be a key trend setter for 2024, a continuation of the trend that was observed this year. 

The company expects next year to be fuelled by the rising demand from tier 2 and 3 markets and overall buoyant customer sentiments. 

"Our primary focus is on further elevating the customer experience to meet their evolving needs. We are also looking forward to creating a lot more buzz around our sustainable offerings in the mass electrification space, contributing to our goal of carbon neutrality. Overall, we are excited and confident for the interesting year that lies ahead of us," said Atul Sood, Vice President of Sales and Strategic Marketing at Toyota Kirloskar Motor.

The company is confident of closing CY23 with the highest ever sales numbers. The company's growth came from across the product portfolio with sustained month-on-month performance and in anticipation of the growing market needs we further strengthened our portfolio to meet varied mobility needs of our customers. 

Toyota Kirloskar Motor sold 16,924 units in November, up 44% year on year. 

One of the highlights of November 2023, which marked 25 years of Toyota Kirloskar Motor’s operations in India, is the signing of an MoU on November 21 with the government of Karnataka for the next round of investment of Rs 3,300 crore. This involves setting up of a third plant in Bidadi, which will expand production capacity by 100,000 units annually.

"Our popular models, including the Hilux, Innova Hycross, Urban Cruiser Hyryder, the New Innova Crysta and the Glanza remain instrumental in driving our growth. The enduring appeal of the Fortuner and Legender continues to further strengthen their positions as segment leaders," said Atul Sood, Vice President of Sales and Strategic Marketing at Toyota Kirloskar Motor.