It looks like the automotive industry is slowly taking baby steps towards normalcy. Toyota announced that it had sold 3866 units in June 2020, thereby more than doubling its wholesales when compared to May 2020. The company had sold 1639 units in May 2020. In the same month last year however, Toyota had sold 10,603 units in the domestic market and had exported 804 units overseas. With the gradual unlock being announced in May 2020 in several parts of the country, the company restarted its factory operations in Bidadi and subsequently started catering to the pending customer orders that had accumulated over the past few months.
In the month of June 2020, Toyota along with its dealer partners has been able to keep the retail momentum growing for a second month in a row, hence resulting in a 50 per cent reduction in its inventory cost at dealerships as compared to an year ago.
Naveen Soni, Sr. Vice President, Sales & Service, TKM said, “Thanks to our special financing offers and buy back offers which has also helped bring customers back to dealerships. Our retails (sales from dealers to customers) is nearly double of wholesales (sales from TKM to dealers) second month in a row thereby bringing down our dealers inventory carrying cost by more than 50% over the past two months.”
As the demand keeps rising from various markets, Toyota is getting ready to ramp up production at its plant and also cater to the orders from different parts of the country. The company is looking to introduce new vehicles to the market as well and we expect it to launch a new car ahead of the festive season. Meanwhile, the Innova Crysta, Fortuner and even the Yaris, continue to rake in sales for the company.