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Toyota Kirloskar Motors (TKM) has announced that the company has registered 1,639 units of total sales in the Indian market. This is a massive drop in sales compared to 13,066 units during the same month last year.
The drop in sales is mainly because of the nationwide lockdown, which had shut down all businesses and operations across India for almost two months. Toyota announced the restart of production at its Bidadi, Karnataka factory on the 26th of May. According to TKM, the company will first cater to a large number of pending orders from the pre-lockdown period.
Toyota also announced that the month of May also witnessed the restart of dealership operation in certain parts of the country. The company stated that by mid-May, close to 60% of Toyota dealerships had resumed operations. Later, with the lockdown being further relaxed, the company has also been able to cater to customers in other markets as well.
Naveen Soni, Sr. Vice President, Sales & Service, TKM said,
"We are thankful to the Govt. as well as to our supplier and dealer partners who have enabled us to resume production last month. We are conscious of the dealer business conditions in various parts of the country and we have been prioritizing production at our end as per dealer requirements, both in terms of quantity as well as the grades that they require."
"The market has been slow and with demand being less, we have been able to wholesale only 20% of what we would have clocked under a normal situation. However, retail sales (sale from dealer to the customer) have been much higher when compared to wholesales (TKM sales to dealers), thereby helping us reduce the month closing inventory levels at dealerships. We have also seen a significant surge in customer orders and enquiries online, through digital platforms."
He further added, "We are very thankful to our customers as well who trust us and our products as well as have been patient with us. We have now resumed operations in more than 300 Toyota outlets across the country, with ongoing sales operations in close to 220 outlets and service operations in more than 230 outlets. From a sales and service point of view, business is ramping up and we are exceeding 50% of our normal capacity from the open outlets."
Thoughts About The Toyota Car Sales In May 2020
The Indian auto industry is slowly recovering from the lockdown, which has had a severe effect not only on vehicle manufacturers but also the country's economy as well. Although demand for new vehicles is still low, Toyota and other companies are expecting it to slowly improve in the coming months.