Toyota India car sales dip 22% in November
Bengaluru: Japanese car maker’s joint venture Toyota Kirloskar Motor (TKM) on Monday said it sold 8,312 units in November, registering a 22 percent annual decline from 10,721 units in the same month a year ago in the domestic market.
“Exports, however, grew 39 percent annually to 929 units of Etios model last month from 669 units in the like month a year ago,” said the city-based company in a statement here.
As a result, total sales for the month under review declined 19 percent year-on-year to 9,241 units from 11,390 units in November 2018.
“We have lowered the volume of vehicles to dealers to have lean inventory and adjusted production to ensure we do not burden them before the shift to BS 6 in April 2020,” said TKM deputy Managing Director N. Raja in the statement.
During the festive month of October, the company’s domestic sales declined 6 percent annually to 11,866 units as against 12,606 units in the same month a year ago as demand spiked during the Dassehra, Danteras and Diwali festivals.
“We are correcting inventory levels to liquidate stocks by December and make a smooth transition to Bharat Standard (BS)-6,” Raja added.