Toyota Kirloskar Motor Records Its Best-ever Financial Year and Monthly Wholesales by clocking 2,63,512 and 27,180 units respectively

Bangalore, 02 April 2024: Toyota Kirloskar Motor (TKM) has maintained its sales momentum, achieving new milestones in both fiscal year performance and monthly wholesales. During FY23-24, the company reached a record sales volume of 2,63,512 units, marking a double-digit growth of 48% compared to the preceding year’s 1,77,683 units (FY22-23).

Additionally, TKM in the month of March’2024 recorded a 25% growth by selling 27,180 units compared to 21,783 units in March’2023. Domestic sales accounted for 25,119 units while exports totaled 2061 units during the same month.

Reflecting on the growth momentum, Mr. Sabari Manohar – Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor said, “We are thrilled to close both our wholesales for 2023-24 fiscal year and March 2024 by recording the highest ever units of 2,63,512 and 27,180 respectively. With a customer-oriented approach, we have always remained ahead in assessing and understanding the diverse needs of our varied customers and market trends, serving them the best with our wider range of quality products and services. We will continue to do so with an emphasis on meeting the rising consumer demands across segments. Further, energizing our customer centricity will be our focus to move even closer to our customers on both product as well as service fronts by enhancing customer touchpoints, and creating a delightful ownership experience.

Furthermore, instrumental to our growth has been our strong product portfolio, tailormade value-added services such as enhanced digitalization, financial tie-ups, high-value proposition, and easy accessibility to our products/services that continue to deliver awesome experiences to our increasing customer base. Notably, the SUV and MUV segments were our biggest contributors with models like the Innova Crysta, Innova HyCross, Fortuner, Legender, Urban Cruiser Hyryder, Hilux, and LC300. Other product offerings such as the Camry Hybrid, Glanza, Vellfire and the Rumion too have fuelled the company’s upward sales trend. Also in 2023, we expanded our annual production capacity by almost 32,000 units to meet the growing demand from our valued customers. Additionally, we made new investments that will further enhance us to gear up for our next phase of business expansion duly incorporating technological transformation in achieving carbon neutrality goals.

We are strongly motivated by good market acceptance for all our products that reflect the company’s multiple technology pathways and are truly grateful to our valued customers. Looking ahead, we are poised to leverage emerging opportunities in both metro and non-metro markets.”