By Toyota Kirloskar Motor (TKM) has reason to celebrate as it reported a remarkable 66% year-on-year growth in sales for October 2023. The automaker sold a total of 21,879 units during the month, demonstrating a significant surge in demand compared to October 2022, when the sales figure stood at 13,143 units. This impressive growth further reinforces Toyota’s strong presence and popularity in the Indian automotive market. Of the total sales, 20,542 units were attributed to the domestic market, showcasing the continued trust and preference of Indian consumers for Toyota vehicles. Additionally, exports accounted for 1,337 units, indicating the brand’s expanding global footprint and reach.
The success in October 2023 is part of a broader trend for Toyota in the Indian market. In the first ten months of the calendar year 2023, TKM managed to sell 1,92,661 units, significantly surpassing the 1,38,190 units sold during the same period in the previous year. This outstanding growth equates to a 40% increase, reflecting the brand’s consistent commitment to meeting the needs and expectations of Indian consumers. One of the strategies employed by Toyota India to address the high demand for its models is the expansion of production capacity through three-shift operations. This initiative allows the brand to serve its customers more efficiently and mitigate long waiting periods.
In addition to these achievements, Toyota recently made adjustments to its pricing strategy. Last month, the company increased the prices of its popular Fortuner SUV by up to Rs. 70,000. These pricing updates were made in response to various factors affecting the automotive industry, and they have not deterred customers from seeking the quality and reliability that Toyota vehicles are known for. Toyota’s remarkable sales growth in October 2023 reaffirms the brand’s position as a trusted and preferred choice among Indian consumers. With a commitment to innovation, reliability, and customer satisfaction, Toyota is set to continue its impressive journey in the Indian automotive landscape.
