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Toyota India Achieves Record Sales in FY23-24 and March 2024

Bangalore, 01 April 2024 – In a remarkable display of growth and performance, Toyota Kirloskar Motor (TKM) has announced its best-ever financial year and monthly wholesales figures. The auto giant sold a staggering 2,63,512 units in the fiscal year 2023-24, registering a 48% growth over the previous year’s sales of 1,77,683 units. The month of March 2024 alone saw TKM selling 27,180 units, a 25% increase from March 2023’s sales of 21,783 units. The company’s domestic sales contributed 25,119 units, while exports totaled 2,061 units for the month.

Sabari Manohar, Vice President of Sales-Service-Used Car Business at Toyota Kirloskar Motor, expressed his excitement over achieving these milestones. He attributed the success to the company’s customer-oriented approach and commitment to understanding and meeting the diverse needs of customers with a broad range of quality products and services. Manohar emphasized the company’s focus on enhancing customer centricity through improved product offerings and service experiences.

TKM’s growth has been significantly supported by its strong product portfolio, including popular models in the SUV and MUV segments such as the Innova Crysta, Innova HyCross, Fortuner, Legender, Urban Cruiser Hyryder, Hilux, and LC300. The company also highlighted the performance of other models like the Camry Hybrid, Glanza, Vellfire, and the Rumion in contributing to its upward sales trend.

In response to increasing customer demand, TKM expanded its annual production capacity by nearly 32,000 units in 2023 and invested INR 3,300 crores in new initiatives. These investments are aimed at supporting the company’s next phase of business expansion and incorporating technological transformations towards achieving carbon neutrality.

Looking forward, Toyota Kirloskar Motor is set to leverage opportunities in both metro and non-metro markets, driven by strong market acceptance of its products and its dedication to a multi-technology pathway. The company remains thankful to its valued customers for their continued support and is poised for further growth in the coming years.

Sales Figures:

TimeframeApril ’23 – March ‘24April ’22 – March ‘23Growth
FY2,63,512 units1,77,683 units48 %
TimeframeMarch 2024March 2023Growth
Month-on-Month27,180 units21,783 units25%
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