• First eleven months of CY 2023 witnesses a significant surge of 40% over the same period last year
• Key Corporate Developments: 1) Celebrates 25 years of operations in India 2) Signs MOU with Karnataka for fresh investment of INR.3,300 crores including ramp-up of production capacity by 1,00,000 units annually and creation of 2000 new job opportunities
Bangalore, 1st December 2023: Toyota Kirloskar Motor (TKM), today registered sales of 17,818 units in November 2023 reporting a growth of 51%, compared the same month of 2022, where it had sold 11,765 units. While the company sold 16,924 units in domestic market, 894 units of The Urban Cruiser Hyryder were exported. TKM also undertook a weeklong maintenance shutdown from November 11-19, 2023 for upkeeping of machinery and equipment to sustain operational efficiencies, maintain quality and safety.
The overall growth chart of TKM continues to gain momentum with cumulative sales for the Calendar Year (CY) 2023 reaching 2,10,497 units, thus reflecting a remarkable 40% increase over the same period in 2022, where the sales were 1,49,995 units.
Commenting on the sales momentum, Mr. Atul Sood, Vice President of Sales and Strategic Marketing at Toyota Kirloskar Motor, said “In November’23 we registered a wholesale growth of 51% as compared to the same period last year. This is despite a weeklong scheduled halt as a part of maintenance to enhance future efficiencies and ensure quality of the highest standard. As a customer centric company, we ensured minimum impact on delivery by using contingent inventory to serve the pending and immediate requirements of our customers.
We recorded a strong festive season with healthy bookings, and we are extremely thrilled to see the market responding very positively to our entire product range. Popular models, like the Hilux, Innova Hycross, Urban Cruiser Hyryder and the New Innova Crysta continue to steer our growth. The ever-loved Fortuner and Legender continue mark their strong presence by upholding segment leadership. In addition, the Vellfire, Rumion, Camry Hybrid and Glanza are positively contributing to our booking numbers thus encouraging us to look forward to closing the year on a record high.
Month of November marked 25 years of TKM’s India journey in India, as we continue to be driven by our customer-centric approach that focuses on the highest quality standards to offer customers a delightful ownership experience. I would also like to express my heartfelt gratitude to over 2.3 million Toyota owners in India. It’s the trust & confidence of our customers that is not only generating overwhelming response for our entire product portfolio but also encouraging us to undertake more customer centric initiatives to grow the Toyota family.”
In a remarkable, corporate milestone which coincided with the company 25 years of operations in India, TKM signed an MOU with the government of Karnataka for the next round of investments of around INR. 3,300 crores involving setting-up of a new plant thus adding to capacity thereby resulting in a substantial boost to the local manufacturing eco-system, along with ushering new technologies to create “mobility for all”.
Overview of TKM
Equity participation Toyota Motor Corporation (Japan) : 89%, Kirloskar Systems Limited (India) : 11%
Number of employees Approx. 6,000
Land area Approx. 432 acres (approx.1,700,000 m2)
Building area 74,000 m2
Total Installed Production capacity Up to 3,42,000 units
Overview of TKM 1st Plant:
Established October 1997 (start of production: December 1999)
Products Innova HyCross, Innova Crysta , Fortuner, Legender manufactured in India.
Installed Production capacity Up to 1,32,000 units
Overview of TKM 2nd Plant:
Start of Production December 2010
Location On the site of Toyota Kirloskar Motor Private Limited, Bidadi
Products Camry Hybrid, Urban Cruiser Hyryder, Hilux
Installed Production capacity Up to 2,10,000 units
*Other Toyota Models: Glanza, Rumion
**Imported as CBU: Vellfire, LC 300