Car Sales September 2019: Toyota Registers Degrowth Of 17% But Expects A Better Festive Season Deman

Toyota Kirloskar Motor sold a total of 10203 units in the domestic market this month of September 2019. The company exported 708 units of the Etios series clocking a total of 10911 units. Toyota Kirloskar Motor sold a total of 12512 units in the domestic market in the same period last year. The company exported 566 units of the Etios series in September 2018. This saw the total sales fall by 17 per cent in September 2019 on a year-on-year basis. The dip in sales was higher in August 2019 at 24 per cent however, the total number of units sold in August were higher (11,544 units)

N. Raja, Deputy Managing Director, Toyota Kirloskar Motor said, "The consumer sentiment continued to be subdued in September which has reflected in the sales slowdown in the industry. Thanks to the Navratri and Diwali festive sparkle around, we expect the consumer demand will see the much needed revival resulting in better retails."

He stated that the industry friendly measures announced by the government in September like the reduction in corporate rate tax from 30 per cent to 22 per cent and even the reduction of MAT rate from 18.5 per cent to 15 per cent - in order to stabilise the flow of funds into capital markets have been a structural change, which should give positive boost to the industry and also uplift the consumer sentiments. With the festive season beginning this month, though the pace is terms of improvement in the market is sluggish, the industry expects improvement in customer demand in the month of October.