Toyota Kirloskar Motor (TKM) is expecting to close the current year with around 60 per cent growth in overall wholesales over last year with demand trends gravitating back to pre-Covid times, a senior company official has said.
The company, which sells models like Fortuner, Innova Crysta and Urban Cruiser in the domestic market, is witnessing constant increase in customer orders and is looking at dispatching around 1.3 lakh units this year.
"For 2021, we are hopeful of closing the year with over 60 per cent growth to show over last year's annual wholesales," TKM Associate General Manager (AGM), Sales and Strategic Marketing V Wiseline Sigamani told PTI.
The automaker had dispatched 76,111 units to dealers in 2020.
"At TKM, customer orders have been on a constant rise and we are witnessing a steady growth, with demand trends gravitating back to pre-Covid times. The Crysta and the Fortuner continue to dominate their respective segments and more so after we launched the Legender, which has received a tremendous response from our customers and it has become the flagship model in this segment," Sigamani stated.
The product refreshments in both these models have helped retain huge customer interests and orders, he added.
"The Glanza and the Urban Cruiser also have been a runaway success for us, witnessing sustained sales as they generate tremendous interest in their respective segments and contributing to a new set of younger customers. All other segments have also attracted good traction which is reflected in our sales performance in November," Sigamani stated.
He noted that 2022 will bring in several opportunities for the company with likely challenges, especially in the aftermath of the post pandemic era.
"We also think that the market will remain cautiously optimistic, with demand set to stabilise. Growth for us is not just defined in terms of sales numbers but with an enhanced product portfolio, we hope we will be able to cater to more segments as well as newer markets," Sigamani noted.
Simultaneously, the automaker will also look at expanding footprints with special focus on tier-II and -III markets, especially with models like Urban Cruiser and Glanza.
With rise in input costs, the company has announced to increase prices across its entire product portfolio from January.
The price realignment is necessitated on the back of sustained increase in input costs including raw materials and all efforts have been made to ensure that the impact of the cost increase has a minimum effect on the customers, it had stated.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today