Despite the GST scare for smaller vehicles, Toyota Kirloskar Motor seem to be holding up incurring only 300 fewer sales than the same month in 2016. They have announced a total of 10,914 unit sales in the Indian market, alongside an export number of 1425 units across the Etios series. Clocking a total of 12,339 units sold, although the company had sold 12,614 units of the Etios in May last year.
Mr N. Raja, Director & Sr. Vice President, Sales & Marketing, Toyota Kirloskar Motor expressed excitement over the sales, noting that the newly launched Innova Touring Sport has been well received in the MPV segment. Although sales for the Innova Crysta launched last year saw a notable — but not damaging — dip in comparison to the same month last year.
The dip was a predictable result of the change in the way the government’s tax structures, with most prospective buyers waiting on the GST implementation before making the buy. Toyota Kirloskar has expressed that this depression will continue — if not magnify — well into June. Till a clear understanding of GST emerges.
TKR have also expressed hope that the government will review its tax structure for green vehicles, such as electrics and hybrids — both of which they sell ie The Camry Hybrid and the Prius — saying that they hope the government will extend further tax privileges to them.
These numbers are, however, just a result of the GST implementation and the company will expect to make up these numbers towards the end of the second quarter.
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