Home >Companies >News >Toyota Kirloskar Motor's July sales at 5,386 units, down 48% YoY

MUMBAI: Toyota Kirloskar Motor Pvt Ltd (TKM) on Saturday reported total domestic wholesales of 5,386 units for July, down 48% from 10,423 units sold during the year-ago period. Volumes, however, rose 39% sequentially.

According to Naveen Soni, senior vice president, sales and service, TKM, retail sales during July were better than the wholesales.

Soni said while retail sales picked up in June, the first month of unlock for TKM, on the back of pent up demand and pending customer orders, July saw sporadic lockdowns imposed in several parts of the country leading to closure of up to 20% company dealerships as of mid-July.

"It was due to the rest of the 80% of our business that has helped us close the month with a higher-than-June retails," he said, adding that the manufacturing units were shut for 4 days during July, which hit monthly production.

Soni added that timely and clear instructions from the government authorities on any lockdowns in the future would help industrial units better plan their production cycles and logistics.

TKM’s order book as of end July ranges from 21-40 days and the inventory across dealerships is at 12 days as against the company’s standard practice of maintaining 21 days of stock.

Toyota plans to soon foray into the sub-four meter sports utility vehicle segment with a new model under its alliance with Suzuki. Its compact SUV, based on the popular Maruti Vitara Brezza, is scheduled for commercial launch during the upcoming festival season.

To keep up the expected demand for its new model, TKM has been ramping up production at its factory in Bidadi, Karnataka.

"We intend to catch up on both retails and wholesales beginning the festive month of August," Soni added.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Edit Profile
My ReadsRedeem a Gift CardLogout