Toyota Kirloskar Motor reports 5 percent drop in October Sales

Toyota Kirloskar Motor (TKM) on Friday reported a 5 percent decline in total sales at 12,610 units in October. The company had posted total sales of 13,245 units in the same month, TKM said in a statement.

Domestic sales were down 6 percent at 11,866 units as compared to 12,606 units in the corresponding month last year, down 6 percent, the company added.

Exports during the month stood at 744 units as compared to 639 units, a growth of 16.43 percent, it said.

Commenting on the sales performance, TKM Deputy Managing Director N Raja said customer demand witnessed a spike in the festive season, especially during Dhanteras and Diwali.

“The boost in customer sentiments has enabled an upward trend in our sales performance as compared to the last few months of slowdown. It was quite encouraging to see the marked improvement in customer orders on account of the festive season,” he added.

There were higher retail conversions for Innova, Fortuner TRD Celebratory edition, and ‘Happenin New Yaris,’ which were introduced to add to the festive fervor, Raja said.

He further said, “We have also seen positive momentum in Glanza sales across India during the festive season; this was a positive impetus for us.”

The company has sold close to 14,000 units of Glanza since its launch in June, Raja added.

On the outlook, he said, “With the positive sales pattern, we are preparing our production system to supply to the sustained customer demand for next month.”

TKM production is based on a “pull system,” which ensures that dealers receive stocks only when they need to refurbish the inventory, Raja said.