Toyota Kirloskar Motor sold a total of 12017 units in the domestic market. The company exported 1064 units of the Etios series this month thus clocking a total of 13,081 units. TKM had sold 12,801 units in the domestic market and exported 1244 units of the Etios series in August 2016.
TKM has witnessed 40-50% jump in customer orders this month post the announcement on potential cess hike. Enquiries continue to be significantly high, however, due to production constraints the company has not been able to cater to the enhanced demand.
Commenting on the monthly sales, Mr. N. Raja, Director & Sr. Vice President, Sales & Marketing, Toyota Kirloskar Motor said, “Our sales numbers this month are not truly reflective of the existing customer orders. Post the announcement on potential cess hike, there was a considerable rise in customer enquiries and orders. Yet we had production limitations which held us back from catching up with the high demand. Due to holidays in August, we further had the constraint of lesser number of production days. With the demand on the rise, the current waiting period for Innova has gone up to around 6-8 weeks and Fortuner is around 10-12 weeks respectively. We sincerely express our regret to the customers for the waiting period. We would like to thank our customers for their patience, we assure them that we are trying our best to bring down the waiting period and meet their needs at the earliest possible.
Catering to customer demands, inventory at our plant and dealership have considerably reduced as of August end.
New Fortuner and Innova Crysta continue to stand strong as segment leaders after a year of its launch. We are thankful to our loyal customers who have highly appreciated the products and continue to come back to us.
We look forward to the festive season with cautious optimism because though the festivities may bring cheer to the market however the looming threat of cess hike may lead to increased prices of our products which definitely would have an impact on the demand.
The customer demand for our strong hybrid product Camry Hybrid has fallen significantly 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 advance technology over petrol/diesel vehicles.” Added Mr Raja.