Toyota India reports YoY growth in domestic wholesales in August 2021, MoM sales decline
In August 2021, Toyota India reported wholesales of 12,772 units, up 129.92 percent from August 2020. Sales a year earlier stood at 5,555 units. Volume gain last month stood at 7,217 units. MoM sales decline stood at 2.54 percent. Sales fell from 13,105 units in July 2021. YTD cumulative domestic wholesales stands at 85,209 units.
In recent months, for the most part, car sales has held steady despite difficulties. This is all the more complex since the industry is plagued by major concerns. With disruptions owing to Covid-19, sales is unpredictable. Add to this the gap that continues to widen between demand and supply of semi-conductors/chips.
Glanza and Urban Cruiser
V. Wiseline Sigamani, Associate General Manager(AGM), Sales and Strategic Marketing, TKM said, “We are witnessing a steady growth after the second wave and the trend continues in August as well. Customer orders are healthy, and the retail sales have shown an improvement as compared to last month.
The segment dominance of Innova Crysta and Fortuner continues, as both the models have recorded good demand and witnessing growing sales in their respective segments. Glanza and Urban Cruiser also continue to garner sustained sales; we are happy to note that both the offerings continue to meet the aspirations of our younger customers.”
We expect the positive demand trend to continue due to the resumption of economic activity, uptick in personal mobility and overall improvement in market sentiment. As the festive season draws closer, and to meet the expectation and convenience of our customers, we are making every effort to offer better services, enhance digitalization of our sales operations and reduce delivery time. In the month of August, we launched our ‘Virtual Showroom’ to further enhance customer experience in the new normal,” he added.
Current parts shortage
Parts shortage means many firms wait before they can make major announcements regarding new car launches. Others are reassessing monthly production/manufacturing output that can be realistically reached amidst unavailability of parts.
Currently even Maruti Suzuki has announced that semi-conductor shortage will impact production in September. It’s left to see to what degree the cars MSIL sells to Toyota India will be impacted.
What will continue to sustain the industry is the high level of purchasing power of consumers. According to various studies, penetration of cars for personal mobility per 1000 people continues to be a number that can be vastly improved.
These numbers continue to make inroads when the car buying populace earns stable wages, and banks offer a range of financial plans. While the market awaits a steady environment, sales isn’t altogether impacted.
