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News18 » Auto
2-min read

Toyota Records Best-Ever July Sales, 43% Growth

Toyota sold a total of 17750 units in the domestic market thereby registering over 43% growth as compared to its domestic sales in the corresponding period last year.

News18.com

Updated:August 1, 2017, 11:29 AM IST
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Toyota Records Best-Ever July Sales, 43% Growth
Toyota Fortuner. (Image: Toyota)

Toyota Kirloskar Motor recorded its best ever July sales in July 2017, it sold a total of 17750 units in the domestic market thereby registering over 43% growth as compared to its domestic sales in the corresponding period last year. This is the company’s third highest ever domestic sales achievement in a month. The company also exported 1723 units of the Etios series this month. Toyota Kirloskar Motor had sold 12404 units in the domestic market and exported 1,344 units of the Etios series in July 2016. The company passed on the benefits of GST to customers on an immediate effect post GST roll out from the beginning of July. GST has been fruitful for the industry by boosting customer demand across segments owing to the price reduction.

The Innova and Fortuner have seen a stupendous growth in the month of July 2017 with the highest ever units sold since its launch. Both Innova Crysta and All New Fortuner have been receiving great response post its launch in May 2016 and November 2016 respectively.

Commenting on the monthly sales, Mr. N. Raja, Director & Sr. Vice President, Sales & Marketing, Toyota Kirloskar Motor said, “We are thankful to the Government for the biggest indirect tax reform of the nation, which has helped us maintain the double digit growth this month. Last month, putting the dealers need ahead we had consciously taken the decision to lower the volumes of vehicles sold to the dealers. We wanted to ensure that there is a minimum burden on our dealer partners of any differential tax post GST. However, we are delighted that with dedicated efforts from all our stakeholders we have been able to achieve the milestone of best ever July sales.

The Innova Crysta has seen impressive growth this month, with over 9300 units sold. All New Fortuner has also been a major contributor to the overall growth with over 3400 vehicles sold, which is the highest ever in India since the launch of Fortuner. Apart from the SUV segment, we are happy that Corolla, Platinum Etios & Etios Liva have also witnessed a positive growth momentum in the month of July and contributed towards the overall growth.

However, the customer demand for our strong hybrid product Camry Hybrid has seen a significant fall owing to the price hike as per applicable tax under GST framework. We hope the Government would reinstate the preferential (lower) tax rate in favor of clean and green technologies such as strong hybrids similar to pre GST era. This will greatly help improve the economic viability and hence aid the consumer in choosing this advanced technology over petrol/diesel vehicles.” Added Mr. Raja.

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| Edited by: Ayushmann Chawla
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