Toyota Kirloskar Motor registered sales of 17,818 units in November, logging 51% year-on-year growth compared to the same month of 2022, where it had sold 11,765 units.
While the company sold 16,924 units in the domestic market, 894 units of the Urban Cruiser Hyryder were exported. Toyota Kirloskar Motor also undertook a weeklong maintenance shutdown from November 11-19, 2023 for the upkeep of machinery and equipment to sustain operational efficiencies and maintain safety.
The first 11 months of calendar year 2023 witnessed a significant surge of 40% over the same period last year. The overall growth chart of Toyota Kirloskar Motor continues to gain momentum with cumulative sales for the calendar year (CY) 2023 reaching 2,10,497 units, thus reflecting a 40% increase over the same period in 2022, where the sales were 1,49,995 units.
"In November’23 we registered a wholesale growth of 51% as compared to the same period last year. This is despite a weeklong scheduled halt as a part of maintenance to enhance future efficiencies and ensure quality," says Atul Sood, vice president of sales and strategic marketing at Toyota Kirloskar Motor.
"We recorded a strong festive season with healthy bookings, and we are extremely thrilled to see the market responding very positively to our entire product range. Popular models, like the Hilux, Innova Hycross, Urban Cruiser Hyryder and the New Innova Crysta continue to steer our growth. The ever-loved Fortuner and Legender continue to mark their strong presence by upholding segment leadership. In addition, the Vellfire, Rumion, Camry Hybrid and Glanza are positively contributing to our booking numbers thus encouraging us to look forward to closing the year on a record high," Sood says.
The world's largest carmaker by sales, Toyota Motor Corporation on Friday announced regional restructuring with India poised to play a vital role. "Currently, as a part of the Asia Region, the Indian market already enjoys high priority. With this change, India will now play an even more crucial role by being integrated into the Middle East, East Asia & Oceania Region and acting as the hub of the new ‘India, Middle East, East Asia & Oceania Region’ starting January 1, 2024," the carmaker says.
The reorganisation, which underlines the growing significance of India in Toyota's global business landscape, reflects the increasing potential of the market upheld by its dynamic and skilled workforce.
As part of this development, Masakazu Yoshimura, MD and CEO of Toyota Kirloskar Motor (TKM) will concurrently be the regional CEO. Appointed as MD and CEO of TKM in 2019, Yoshimura, having worked in countries such as Japan, China and South Africa, brings close to 30 years of automobile experience.
Toyota Kirloskar Motor has announced a series of priority investments marking a substantial stride toward establishing India as a global hub for the manufacturing of clean and green technologies. On November 21, 2023, the company announced fresh investments of ₹3,300 crore involving setting up of a new plant by 2026, thus adding to capacity thereby resulting in a substantial boost to the local manufacturing ecosystem. The new plant is expected to ramp up production capacity by 1,00,000 units, annually, and generate around 2000 numbers of additional employment.