Toyota offered over 160,000 vehicles in India final 12 months and had offered near 150,000 by the top of August this 12 months, Atul Sood, vp of gross sales informed Reuters.
“We’re assured of closing this calendar 12 months with our greatest ever efficiency and setting a brand new benchmark,” Sood stated.
Toyota’s India enterprise has been the largest beneficiary of its world partnership with Suzuki which permits the 2 Japanese carmakers to share know-how and automobiles.
Mid-sized automobiles from Maruti Suzuki’s steady such because the Glanza hatchback and City Cruiser HyRyder SUV have boosted Toyota’s India gross sales at a time when it’s seeing slowing progress in markets like Europe and North America and competitors in Southeast Asia from Chinese language gamers. The Glanza is priced beginning at round $8,500 and the HyRyder begins at $13,000 whereas Toyota’s top-selling fashions such because the Innova Crysta and Fortuner SUV are priced at $24,000 and $40,000, respectively. Vehicles from Maruti made up about 40% of Toyota’s whole gross sales in India within the first eight months of 2023, business information confirmed. Toyota’s portfolio in India additionally consists of pricier vehicles such because the Camry hybrid and the Hilux pickup.
“The HyRyder has given us a brand new set of consumers who’re majorly upgrading,” he stated, including that these consumers are transferring up from smaller hatchbacks and SUVs.
“Nearly all of the demand is coming from a youthful profile,” he added.
Toyota has over 600 dealerships throughout India and plans to broaden additional, particularly in smaller cities, Sood stated.