Clocks over 6% growth in wholesales in the last quarter of 2020, as customer orders and retail sales surge in the midst of new launches from Toyota
1st January 2021, Bangalore: Toyota Kirloskar Motor today announced that the company sold a total of 7487 units in the month of December 2020, thereby clocking a growth of 14% when compared to its wholesales in the month of December 2019. TKM also registered a 6% growth in wholesales in the last quarter of 2020 when compared to the wholesales clocked in the corresponding period last year. For reference, TKM had sold a total of 6544 units in the domestic market in December 2019.
|Wholesales||December||2020||2019||Month on month Growth|
Commenting on the sales performance, Mr. Naveen Soni, Sr. Vice President TKM said, “As we wrap up the year, we are happy to have registered a 14% growth in wholesales in December 2020, when compared to sales in the same period in 2019. We have also managed to retain more than 6% growth in wholesales in the last quarter of calendar year 2020, when compared to the last quarter of 2019. This has been possible due to our customers’ faith in the brand, as customer orders have been rising significantly and retail sales (Dealer’s sale to customers) have also been very encouraging which gives us the confidence to embark upon a new target as we welcome 2021.
December witnessed a few adjustments in terms of production, due to new model launches as well as year model changes. This also included our efforts to exhaust the existing stock of the current generation Fortuner so that we can begin production of the new Fortuner at our plant in Bidadi and is slated to be launched in India next week. The new Innova Crysta has also received a very good response from the market and we are looking forward to delighting our anticipating customers with the new generation of the Toyota Fortuner
The year 2020 has been one with several challenges as well as significant learnings and the entire sector has emerged stronger with greater focus on localization and digitalization. Such learnings have not only taught us to adapt to the challenging & dynamic situations surrounding us but to evolve as well. At TKM, we strongly believe that the current economic revival is likely to help sustain the sales momentum in 2021 and we are hopeful that 2021 will see a V shaped recovery of the economy thereby helping the industry to bounce back. To cater to this demand, we plan to expand our product line-up in a sustainable and phased manner to meet customer expectations”, Mr. Soni concluded.
Overview of TKM:
|Company name||Toyota Kirloskar Motor Private Limited|
|Equity participation||TMC: 89%, Kirloskar Systems Limited (Mr. Vikram S. Kirloskar): 11%|
|Number of employees||Approx. 6,500|
|Land area||Approx. 432 acres (approx.1,700,000 m2)|
|Building area||74,000 m2|
|Total Installed Production capacity||Up to 3,10,000 units|
Overview of TKM 1st Plant:
|Established||October 1997 (start of production: December 1999)|
|Products||Innova, Fortuner manufactured in India.
Vellfire imported as CBU
|Installed Production capacity||Up to 1,00,000 units|
Overview of TKM 2nd Plant:
|Start of Production||December 2010|
|Location||On the site of Toyota Kirloskar Motor Private Limited, Bidadi|
|Products||Toyota Yaris, Camry Hybrid|
|Installed Production capacity||Up to 2,10,000 units|