Toyota Kirloskar Motor (TKM) on Saturday reported 6.2 per cent decline in total vehicle sales to 13,066 units in May, as against 13,940 in the same month last year.
In the domestic market, the company reported sales of 12,138 units last month, down 7.4 per cent as compared to 13,113 units in May 2018, TKM said in a statement.
“The company exported 928 units of the Etios series this month thus clocking a total of 13,066 units....The company exported 827 units of the Etios series (in May,2018)...thus clocking a total of 13,940 units,” it added.
Commenting on the sales performance, Toyota Kirloskar Motor Deputy Managing Director N Raja, said, “The customer demand had witnessed a continued slowdown before the election results. Customers have been cautiously spending which has led to sluggishness in the domestic auto sales. Added factors like liquidity tightening, high insurance costs, increase in fuel costs have also weakened the retails“.
However, with the formation of a stable government now at the Centre, there is an increase in customer walk-ins post the election results announcement, which would brighten the sales in upcoming months, Raja said.
“We are excited about the upcoming launch of Toyota Glanza on June 6, it would mark our entry into the premium hatchback segment to cater to the growing demands of our existing and prospective customers. We are confident Glanza backed by Toyota’s unique sales and service efficiency will create a new benchmark in the industry in customer delight,” he added.