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Toyota has announced that its car sales figures during the festivities of Dhanteras has increased by 12 per cent, as compared to the same period last year. Dhanteras which marks the start of the Diwali festival, is considered an auspicious time for making new purchases.
Toyota states that the pent-up demand, along with the festive season and offers have been the main reason for increased vehicle purchase. The company also announced a 10 - 13 per cent increase in order taking during the period of Dhanteras this year.
Naveen Soni, Senior VP, Sales & Service, Toyota Kirloskar Motor, stated,
"We are witnessing a gradual but steady recovery over the last few months and this can be attributed to a few factors including, pent up demand from the last few months, festive demand that has contributed to the overall sales in the month of October & November, consolidation of the market at the lower end due to personal mobility issues & finally, the kind of offers and schemes that OEMs have been offering to customers to push demand."
The Japanese carmaker also stated that most of the sales volume for the month of October and November have been contributed by the festive season sales. However, the company believes that the demand will slowly taper down, once the festive season and offers end.
Soni, further mentioned, "The first two factors being topical are bound to gradually taper down, beginning next month. We have already witnessed a decrease in demand created due to pent up demand from 36% in the earlier months to around 20% last month."
"Similarly, festive demand will also last till about the end of this month. Therefore, what is more prone to sustain are factors like consolidation of the market at the lower end due to personal mobility issues and the variety of schemes & offers that OEMs can come up with."
Talking about the Dhanteras festive sales in the domestic market, Naveen Soni said, "If we talk about TKM sales & customer orders this festive season, there has been a 10%-13% increase in order taking this year on Dhanteras when compared to the same period last year."
"Dhanteras in 2020 has been celebrated over two days in various parts of the country and hence in terms of retail sales also, we have witnessed a 12% growth when compared to Dhanteras in 2019. We are hoping that sales in November will be more bullish when compared to October sales."
Thoughts On Toyota Sales Improving During Dhanteras Festive Period
The Toyota car sales have been witnessing a steady rise in the domestic market. The sales volume over the last two months have further received a boost from the festive season, offerings and the pent-up demand. Toyota is hoping this trend to continue onto the coming months as well.