General
The downward trend in the automotive industry continues in May 2019 as well. Toyota Kirloskar Motor announced its sales figure for the month of May and it has sold a total of 12,138 units in the domestic market, which was a de-growth of 7 per cent as compared to the same period last year. The company exported 928 units of the Etios series this month thus bringing the company’s total sales to 13,066 units. In comparison, Toyota Kirloskar Motor sold a total of 13,940 units in May 2018 thus registering a decline in sales of 6 per cent.
N. Raja, Deputy Managing Director, Toyota Kirloskar Motor said, “The customer demand had witnessed a continued slowdown before the election results. Customers have been cautiously spending which has led to sluggishness in the domestic auto sales. Added factors like liquidity tightening, high insurance costs, increase in fuel costs have also weakened the retails.”
However, he says that there is an increase in customer walk-ins post the election results announcement which would brighten the sales in upcoming months.The company is all set to launch the Glanza in India on June 6, 2019 and this would mark the company’s entry into the premium hatchback segment. The company thinks that the slowdown will soon be gone and things will look bright for the automotive industry.
