Toyota Kirloskar Motor (TKM) sold a total of 3,866 units in June 2020, registering a decline of over 63% compared to 10,603 units sold in the domestic market in June 2019. The company had also exported 804 units of the Etios during the same period last year. However, the wholesales have more than doubled compared to 1,639 units in May 2020.
The company resumed its manufacturing operations in Bidadi, KA, last month and subsequently started catering to the pending customer orders that had accumulated over the past few months. With lockdown regulations being relaxed in several parts of the country, Toyota dealers were able to sell vehicles mostly from their held inventory in May 2020.
With demand gradually coming back in the market and with strong support from our dealer partners as well as the hard work of our SBUs (Strategic Business Units), we have been able to keep up with customer expectations. Thanks to our special financing offers and buyback offers which has also helped bring customers back to dealerships. Our retails (sales from dealers to customers) are nearly double of wholesales (sales from TKM to dealers) the second month in a row thereby bringing down our dealers inventory carrying cost by more than 50% over the past two months. We are also seeing a visible growth in online enquiries as well as bookings. – Naveen Soni, Sr. Vice President, Sales & Service, TKM
TKM has also confirmed 7 COVID-19 positive cases of its employees so far. The company said that it is following government guidelines, and has quarantined those employees who are suspected to have had primary or secondary contact with the infected employees.
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