Indian automotive industry has been experiencing a prolonged slowdown inspite of a few new car launches in recent months. While January 2019 saw a spike in sales, it was attributed to healthy discounts for clearance of the unsold 2018 stock. The industry as a whole is showing no sign of recovery in the near future, thanks to the BS VI norms kicking in early next year and the uncertainty of diesel motors. The on-going election season in the country can also be a possible reason for the de-growth.
In the month of April 2019, Toyota Kirloskar Motor sold a total of 10,112 units in the domestic market. The company exported 1301 units of the Etios series this month thus clocking a total of 11,413 units. Toyota Kirloskar Motor sold a total of 13037 units in the domestic market this month of April 2018. The company exported 834 units of the Etios series this month thus clocking a total of 13871 units.
Commenting on the sales performance, Mr. N. Raja, Deputy Managing Director, Toyota Kirloskar Motor said, “The industry is currently experiencing a slowdown due to uncertainty of upcoming general elections that looms over the market and this slow pace is expected to continue until the new government is formed. Consumer sentiments has currently dampened due to several factors like tight liquidity, high insurance, high costs.
We hope the sales growth momentum to pick up in the upcoming months post election results are out.”
