Toyota’s Half Yearly Sales Down By 10%
Toyota Kirloskar Motor sold a total of 10603 units in the domestic market this month of June 2019. The company exported 762 units of the Etios series this month thus clocking a total sales of 11365 units. The company had sold a total of 14102 cars in June 2018 and hence by comparison, sales have seen a degrowth of 19 per cent. As far as sales from January to June are concerned, Toyota has sold over 68000 units in the domestic market which is a drop of 10 per cent compared to the same period last year. Despite the steep drop in sales in the industry, the company is putting their best efforts to maintain lean inventory and support the dealer partners.
N. Raja, Deputy Managing Director, Toyota Kirloskar Motor said, “The Industry has been witnessing a continuous decline in domestic sales owing to several factors that have contributed to the weak consumer sentiment. The prevailing economic uncertainty, uncertainty on monsoons, high interest costs, tight liquidity and also the underlying apprehensions surrounding BS 6 introduction in few months have steered the slowdown.”
The company looks forward to the upcoming budget to address the need for positive growth in the economy which would result in better sentiment in the Auto Industry.
Source: Read Full Article