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In October 2023, Toyota Kirloskar Motor (TKM) achieved significant success in the auto sales sector. They reported the sale of a remarkable 21,879 vehicles during this month, signifying a substantial 66% growth when compared to the same month in the previous year. This significant rise suggests that Toyota's market performance and strategies are on the right track, providing a positive future for the firm within the automotive industry.
Domestic and Export Sales
Breaking down the sales figures, out of the 21,879 vehicles sold in October 2023, an impressive 20,542 were purchased within India's domestic market. This illustrates how well-liked Toyota vehicles are among Indian consumers. Moreover, 1,337 automobiles were exported to various nations, demonstrating that Toyota's appeal extends beyond India. This demonstrates how well-known Toyota is worldwide for its dependability, effectiveness, and quality in the fiercely competitive global auto sector.
Comparing October 2023 and September 2023 Sales
While the October 2023 sales figures are indeed commendable, it's essential to note that they were slightly lower than the extraordinary sales performance in September 2023 when Toyota achieved the sale of a remarkable 23,590 vehicles. The month of September was particularly significant for Toyota, as it marked the highest-ever cumulative sales recorded by the brand. This comparison highlights the natural fluctuations in consumer demand within the dynamic auto market, which can be influenced by various factors, including seasonal trends and market dynamics.
Strong Sales Momentum and Festive Season Impact
Atul Sood, Vice President of Sales and Strategic Marketing at Toyota Kirloskar Motor, attributed the robust sales performance in October to the combined impact of the festive season and the wide acceptance of Toyota's complete product range. He pointed out that, due to cultural and economic causes, there is typically an upsurge in consumer activity over the holiday season. This year was no different, and increased sales volumes were largely fueled by the positive reaction of the market to Toyota's product selection. This shows how seasonality affects the auto business and emphasises how important a robust product variety is to drawing in customers.
Price Increase for Fortuner SUV
In the preceding month, Toyota implemented price adjustments for its popular Fortuner SUV. The price increase ranged up to Rs 70,000, with the extent of the increase depending on the chosen variant of the Fortuner. As a result, the price range for the Fortuner now starts at Rs 33.43 lakh and goes up to Rs 51.44 lakh for the top-of-the-line GR-S 4x4 variant. For their Fortuner, customers have a choice between two engine options and manual or automatic gearboxes, offering a multitude of alternatives to suit their own preferences. Toyota's objective to match price with market dynamics and preserve a competitive position in the car industry is shown in this pricing change.