In the height of the festive season, October 2023 proved to be a resounding success for Toyota, witnessing a remarkable 45.24 percent Year-over-Year (YoY) growth in sales, and the strong market acceptance of key models such as the Hycross, Glanza, and HyRyder drove this surge in performance. The company achieved sales of 20,542 units in the domestic market, complemented by an additional 1,337 units exported.
Breakdown of Toyota Sales in October 2023
Breaking down the sales figures for Toyota in October 2023, the total sales exhibited a substantial YoY increase to 20,542 units, marking a 45.24 percent growth from the 14,143 units sold in October 2022.
- Toyota Hycross Dominates: The standout performer was the Toyota Hycross, with 5,018 units sold, commanding a significant 24.43 percent share in the company's portfolio.
- Glanza Hatchback Excels: The Glanza hatchback secured the second position with 4,724 units sold, reflecting a YoY growth of 25.40 percent. It also claimed a spot in the top 10 best-selling hatchbacks for October 2023.
- HyRyder Sees Growth: The HyRyder saw a 17.82 percent YoY improvement, selling 3,987 units. Notably, the Urban Cruiser HyRyder and its Grand Vitara counterpart have been updated with the Advanced Driver Assistance Systems (ADAS) feature, with the launch expected early next year.
- Model-Specific Performance: While Innova Crysta sales experienced a 15.35 percent YoY decline to 3,165 units, Toyota Fortuner sales saw a positive change, increasing by 21.86 percent to 2,475 units.
Month-over-Month (MoM) Sales Performance in October 2023
Looking at Month-over-Month (MoM) sales in October 2023, Toyota reported a 7.29 percent dip. Total sales decreased from 22,157 units in September 2023 to 20,542 units in the past month.
- Hycross Leads MoM Growth: The Hycross demonstrated an 11.86 percent MoM sales growth, reaching 5,018 units.
Glanza Holds Steady: Glanza sales experienced a marginal 0.06 percent decline to 4,724 units. - HyRyder Records Growth: HyRyder reported a 4.81 percent MoM growth with 3,804 units sold.
- Model-Specific MoM Changes: In contrast, Crysta sales decreased by 28.30 percent MoM to 3,165 units, and Fortuner sales fell by 13.88 percent to 2,475 units.
- Performance Variations: The Rumion reported a 45.79 percent sales de-growth, dropping to 792 units from 1,461 units the previous month. Camry sales dipped by 23.94 percent to 197 units, while Toyota Hilux sales saw a positive MoM growth of 37.12 percent, reaching 181 units in October 2023.
- Additional Highlights: Three units of Vellfire were sold in the same period, contributing to the overall sales performance of Toyota in October 2023.
Conclusion
Toyota's October 2023 sales narrative is not only a testament to its adept navigation of the domestic market but also a strategic foray into global arenas. The diverse performance of its models underscores the adaptability of Toyota in meeting varied consumer preferences setting the stage for continued success in the dynamic automotive landscape.