Toyota Kirloskar Motor Company (TKMC) reported flat sales and export of its cars in February on annual basis due to slowdown and tight liquidity condition.
"We sold 12,497 cars, including 11,760 in the domestic market and exported 737 in February as against 12,705 cars in the same month of 2018, with 11,864 cars in the country and 841 overseas," said the city-based Japanese joint venture (JV) in a statement here.
Total sales in January were 12,067 cars, including 11,221 in the domestic market and 846 in the export market.
"Though consumer sentiment improved in February compared to January, leading to a growth in demand, auto sales are witnessing a slowdown in pre-election phase and due to tight liquidity condition impacting the buying behaviour," said TKMC Deputy Managing Director N. Raja in the statement.
In the two-decades-old JV of Toyota Motor Corporation (TMC) and the Pune-based Kirloskar Brothers Ltd, the former holds 89 percent of the equity.
The company has two assembly plants with 3.1 lakh units combined installed capacity per annum at Bidadi industrial township, 40 km from the city.
The JV rolls out a range of models, including Innova multi-utility vehicle, Camry sedan, Prius hybrid, Corolla Altis, Etios and Land Cruiser, with some of them imported as completely built units.(This story has not been edited by News18 staff and is published from a syndicated news agency feed - IANS)