Toyota Kirloskar Motors witnessed a 7% drop in its domestic sales for the month of May 2019. The Indo-Japanese car manufacturer sold 12,138 units during the aforementioned month. During the same month last year, the company sold 13,113 units. In May 2019, Toyota exported 928 units while in May 2018, the company's exports stood at 827 units. Cumulatively, Toyota sold 13,066 units during the month of May 2019 in comparison to 13,940 units during the same month last year hence observing a decline of 6% in its overall sales.
Commenting on the company's performance, N. Raja Deputy Managing Director, Toyota Kirloskar Motor said that the demand from customers had witnessed a continued slowdown before the election results. Because of cautious spending, the domestic auto sales are sluggish. He further added that factors like liquidity tightening, high insurance costs, increase in fuel costs have also weakened the retails. He believes that with the formation of a stable Government now at Centre, there is an increase in customer walk-ins post the election results announcement which would brighten the sales in upcoming months.
In other news, Toyota is going to launch its all-new premium hatchback Glanza in India on the 6th of June this year. Based on the Maruti Suzuki Baleno, under a global partnership between the two companies, it is going to sit above the Etios Liva in the company's portfolio. It is likely to be offered with a petrol engine option only. However, it is going to get two different variants to choose from. The Glanza and the Baleno are exactly similar to one another, be it in terms of its features and creature comforts or the engine line-up. It is expected that the Toyota's offering is going to be slightly expensive than the Baleno. However, it will have an edge over its donor vehicle as well as the competition in terms of the after-sales services that Toyota offers.