Toyota Kirloskar Witnesses Record Sales In First Month Of GST Era
Toyota Kirloskar Motor, the undisputed leader in the bigger utility vehicle segment saw its sales sky rocketing in July post the price benefit it received and passed to consumers from the implementation of goods and services tax (GST).
Toyota Kirloskar Motor recorded its best ever July sales in July 2017. The company sold a total of 17750 units in the domestic market thereby registering over 43 per cent growth as compared to its domestic sales in the corresponding period last year. Toyota Kirloskar Motor had sold 12404 units in the domestic market in July 2016.
N Raja, Director & Sr. Vice President, Sales & Marketing, Toyota Kirloskar Motor said, “We are thankful to the Government for the biggest indirect tax reform of the nation, which has helped us maintain the double digit growth in July.”
Toyota’s sales in June 2017, the last month of previous tax regime, domestic sales plunged by 85 per cent at 1973 units as the company resorted to lower the volumes of vehicles sold to the dealers to minimize financial burden.
“Last month, putting the dealers need ahead we had consciously taken the decision to lower the volumes of vehicles sold to the dealers. We wanted to ensure that there is minimum burden on our dealer partners of any differential tax post GST,” Raja said.
The company’s most famous vehicles Innova and Fortuner continued its magnificent run in the Indian market and posted highest ever monthly sales in July. While Toyota sold over 9300 units of Innova Crysta, Fortuner recorded its highest sales since launch at over 3400 units.
Toyota’s other cars such as Corolla, Platinum Etios and Etios Liva also witnessed a positive growth momentum in the month of July. However, its strong hybrid vehicle, the Camry Hybrid was significant fall owing to the price hike as per applicable tax under GST framework.
“We hope the government would reinstate the preferential (lower) tax rate in favor of clean and green technologies such as strong hybrids similar to pre GST era. This will greatly help improve the economic viability and hence aid the consumer in choosing this advanced technology over petrol/diesel vehicles,” Raja said.
On the export front, the company exported 1723 units of the Etios series last month as against 1,344 units of the Etios series exported in July 2016.
