Toyota Kirloskar Motor has announced its India sales numbers for the month of June 2020. Last month, the company sold a total of 3,866 units and with this, the company recorded a whopping 235 percent sales growth compared to the numbers registered in May 2020 that saw 1,639 unit sales. Now comparing these figures to the ones reported during the same period last year, Toyota sold a total of 10,603 units in the domestic market in June 2019 and had exported 804 units of the Etios as well. With gradual unlock being announced in the month of May 2020 in multiple parts of India, Toyota had restarted its factory operations in Bidadi and also started catering to pending customer orders that had accumulated over the last few months. The company said that with lockdown being relaxed in numerous parts of the country and demand picking up, its dealers were able to mostly sell vehicles to the customers from their held inventory in the month of May 2020 and thereby ensuring a lean inventory at the dealership by end of May.
In June 2020, TKM along with its dealer partners was able to keep the sales momentum going for the second month in a row and this resulted in a 50% reduction in its inventory cost at the dealerships compared to a year ago. Speaking on the sales growth, Naveen Soni, Senior Vice President, Sales & Service, TKM said that with demand gradually coming back in the market and with strong support from the dealer partners as well as the hard work of our SBUs (Strategic Business Units), Toyota has been able to keep up with customer expectations.
He adds that thanks to the brand’s special financing offers and buyback offers which has also helped bring customers back to dealerships. The company’s retails (sales from dealers to customers) is nearly double of wholesales (sales from TKM to dealers) second month in a row thereby bringing down our dealers inventory carrying cost by more than 50% over the past two months. He concluded his statement by saying that Toyota is also seeing a visible growth in online enquiries as well as bookings.
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